It's been a good week for Lloyds Banking Group plc (LON:LLOY) shareholders, because the company has just released its latest full-year results, and the shares gained 5.3% to UK£0.45. Results look mixed - while revenue fell marginally short of analyst estimates at UK£18b, statutory earnings were in line with expectations, at UK£0.075 per share. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Lloyds Banking Group after the latest results.

Check out our latest analysis for Lloyds Banking Group

Following last week's earnings report, Lloyds Banking Group's 15 analysts are forecasting 2024 revenues to be UK£18.4b, approximately in line with the last 12 months. Statutory earnings per share are forecast to fall 17% to UK£0.064 in the same period. Yet prior to the latest earnings, the analysts had been anticipated revenues of UK£18.6b and earnings per share (EPS) of UK£0.061 in 2024. So the consensus seems to have become somewhat more optimistic on Lloyds Banking Group's earnings potential following these results.

The consensus price target was unchanged at UK£0.59, implying that the improved earnings outlook is not expected to have a long term impact on value creation for shareholders. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. The most optimistic Lloyds Banking Group analyst has a price target of UK£0.80 per share, while the most pessimistic values it at UK£0.41. This is a fairly broad spread of estimates, suggesting that analysts are forecasting a wide range of possible outcomes for the business.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. We would highlight that Lloyds Banking Group's revenue growth is expected to slow, with the forecast 0.5% annualised growth rate until the end of 2024 being well below the historical 2.6% p.a. growth over the last five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 3.8% per year. Factoring in the forecast slowdown in growth, it seems obvious that Lloyds Banking Group is also expected to grow slower than other industry participants.