Lloyds Banking Group (LON:LLOY) Sets New 1-Year High – What’s Next?

Lloyds Banking Group plc (LON:LLOY)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 117.90 and last traded at GBX 117.05, with a volume of 198460156 shares changing hands. The stock had previously closed at GBX 116.60.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Lloyds Banking Group from GBX 171 to GBX 121 and set a “neutral” rating for the company in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 125 price target on shares of Lloyds Banking Group in a research report on Friday, July 31st. Shore Capital Group reiterated a “sell” rating on shares of Lloyds Banking Group in a research note on Thursday, April 30th. Royal Bank Of Canada lifted their price objective on Lloyds Banking Group from GBX 120 to GBX 124 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Citigroup boosted their price objective on Lloyds Banking Group from GBX 114 to GBX 123 and gave the company a “buy” rating in a research note on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 114.20.

Lloyds Banking Group Trading Down 0.8%

The company has a market capitalization of £67.53 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.84 and a beta of 0.91. The company’s fifty day moving average is GBX 108.43 and its 200 day moving average is GBX 102.94.

Lloyds Banking Group (LON:LLOY) last issued its earnings results on Thursday, July 30th. The financial services provider reported GBX 4.80 earnings per share (EPS) for the quarter. Lloyds Banking Group had a net margin of 26.73% and a return on equity of 11.05%. Equities research analysts predict that Lloyds Banking Group plc will post 7.3199528 EPS for the current year.

About Lloyds Banking Group

We are the largest UK retail and commercial financial services provider with over 25 million customers and a presence in nearly every community.

The Group’s main business activities are retail and commercial banking, general insurance and long-term savings, provided through the largest branch network and digital bank in the UK, with well recognised brands including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows.

Our shares are quoted on the London and New York stock exchanges and we are one of the largest companies in the FTSE 100 index.