With Lloyds share price stable on third quarter results day, should I buy the stock?

About 63p, i Lloyds Banking Group (LSE: LLOY) share price is stable as I write on 23 October.

But this is the company's third quarter results day, so I think it's safe to assume there are no positive market surprises in the report.

It's unlikely we'll see fireworks in the stock today, or anytime soon with luck. After all, most stockholders probably want stability, and the continuation of fat dividends falling into their stock accounts.

Oh, and a slight rise in share prices as the economy slowly climbs to new heights and sunny living conditions in the coming years.

To maintain its benefits

However, it is important to note that City analysts did not expect much from the business. They have penciled in a drop in average income by 2024 of around 13%.

Old reliable Lloyds did not disappoint. Today's figures for the nine months to 30 September are a real deal of negative numbers. For example, net income fell 7% year over year, underlying profit fell 12%, earnings per share fell just over 10%, and so on.

However, this was all expected and the third and latest quarter numbers actually came in ahead of analysts' forecasts. It's not like they turned positive or anything. It's just that analysts expected the worst! For example, net income fell by just 4% – do you get the picture?

Despite all this, it is far from doom and gloom for Lloyds shareholders. Since the beginning of January, the share price is up just over 30%.

But the main attraction for many here is the budget, and it has been increasing every year as directors postpone when the pandemic hits in 2020.

Meanwhile, those analysts confidently predicted further increases in shareholder payouts ahead. In addition, there is no indication in today's report of any threat to profits.

Looking ahead, the forward yield to 2025 is running at a chunky 5.4%, though. However, that seems like a much-needed compensation for the risks shareholders face when holding the stock.

A statement of positive outlook

We have seen in this pandemic how vulnerable business can be to normal economic disruptions. The multi-year earnings performance record is all over the place, and the share price has been moving faster than a fiddler's elbow.

There's no escaping the cycle here, which means it's easy to lose money as it can sometimes be in stocks. Still, chief executive Charlie Nunn delivered an upbeat assessment of the business's prospects, calling for a third-quarter performance. “strong”.

This company is progressing well with its strategy and it is “opportunity to deliver high, sustainable returns”said Nun.

Should I buy the stock? I can't, I don't deserve it!

Lloyds has so many moving parts that unpleasant surprises can pop up at any time without me being aware of their subtle ways.

Full circle dresses like this are difficult to tighten. Lloyds' business and share price could rise from here. But I'm putting the stock in the 'very difficult' pile because I have little faith in my ability to invest at the right time this time.