DA Davidson Comments on Louisiana-Pacific Co.’s FY2024 Earnings (NYSE:LPX)

Louisiana-Pacific Co. (NYSE:LPX) – Research analysts at DA Davidson boosted their FY2024 earnings per share estimates for shares of Louisiana-Pacific in a report released on Thursday, April 25th. DA Davidson analyst K. Yinger now anticipates that the building manufacturing company will post earnings of $5.39 per share for the year, up from their previous forecast of $3.71. DA Davidson currently has a “Buy” rating and a $76.00 target price on the stock. The consensus estimate for Louisiana-Pacific’s current full-year earnings is $4.89 per share.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Wednesday, February 14th. The building manufacturing company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.17. Louisiana-Pacific had a return on equity of 15.65% and a net margin of 6.90%. The business had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $618.60 million. During the same period in the previous year, the firm posted $0.61 EPS. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year.

Other research analysts have also recently issued reports about the company. TD Cowen restated a “hold” rating and set a $75.00 price target on shares of Louisiana-Pacific in a research note on Thursday, January 11th. Truist Financial upped their price target on Louisiana-Pacific from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. TheStreet lowered Louisiana-Pacific from a “b-” rating to a “c+” rating in a research report on Thursday, February 29th. TD Securities upped their price objective on Louisiana-Pacific from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, February 15th. Finally, Royal Bank of Canada upped their price objective on Louisiana-Pacific from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.71.

Louisiana-Pacific Trading Down 0.3 %

LPX opened at $74.57 on Monday. Louisiana-Pacific has a one year low of $49.47 and a one year high of $84.54. The stock has a market capitalization of $5.39 billion, a PE ratio of 30.44 and a beta of 1.84. The business’s 50 day moving average price is $76.62 and its 200 day moving average price is $68.16. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.54 and a current ratio of 3.00.

Louisiana-Pacific Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a $0.26 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.04 dividend on an annualized basis and a yield of 1.39%. This is an increase from Louisiana-Pacific’s previous quarterly dividend of $0.24. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 42.45%.

Insider Activity at Louisiana-Pacific

In related news, Director Lizanne C. Gottung sold 2,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $77.58, for a total value of $193,950.00. Following the completion of the sale, the director now owns 25,995 shares in the company, valued at $2,016,692.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Riverwater Partners LLC purchased a new position in shares of Louisiana-Pacific during the 1st quarter worth approximately $472,000. LifeSteps Financial Inc. purchased a new position in shares of Louisiana-Pacific during the 1st quarter worth approximately $25,000. Simplicity Wealth LLC purchased a new stake in Louisiana-Pacific in the 1st quarter worth approximately $248,000. Louisiana State Employees Retirement System grew its stake in Louisiana-Pacific by 2.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 18,500 shares of the building manufacturing company’s stock worth $1,552,000 after acquiring an additional 500 shares during the period. Finally, Nations Financial Group Inc. IA ADV grew its stake in Louisiana-Pacific by 32.8% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 5,540 shares of the building manufacturing company’s stock worth $465,000 after acquiring an additional 1,369 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.