Seaport Res Ptn Comments on Louisiana-Pacific Co.’s Q2 2024 Earnings (NYSE:LPX)

Louisiana-Pacific Co. (NYSE:LPX) – Equities researchers at Seaport Res Ptn raised their Q2 2024 earnings per share estimates for shares of Louisiana-Pacific in a research report issued on Monday, April 15th. Seaport Res Ptn analyst M. Weintraub now forecasts that the building manufacturing company will post earnings of $1.80 per share for the quarter, up from their prior estimate of $1.02. The consensus estimate for Louisiana-Pacific’s current full-year earnings is $3.85 per share. Seaport Res Ptn also issued estimates for Louisiana-Pacific’s FY2024 earnings at $4.80 EPS.

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

LPX has been the topic of a number of other reports. TD Cowen reissued a “hold” rating and set a $75.00 price target on shares of Louisiana-Pacific in a report on Thursday, January 11th. Royal Bank of Canada boosted their price target on Louisiana-Pacific from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. DA Davidson restated a “buy” rating and issued a $76.00 price target on shares of Louisiana-Pacific in a research note on Tuesday, February 13th. Truist Financial lifted their price objective on shares of Louisiana-Pacific from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Finally, TheStreet downgraded shares of Louisiana-Pacific from a “b-” rating to a “c+” rating in a report on Thursday, February 29th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Louisiana-Pacific currently has a consensus rating of “Hold” and an average price target of $73.71.

Louisiana-Pacific Stock Down 1.0 %

Shares of LPX stock opened at $72.02 on Thursday. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 29.40 and a beta of 1.84. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.00 and a quick ratio of 1.54. The company’s fifty day moving average price is $76.10 and its 200-day moving average price is $67.11. Louisiana-Pacific has a one year low of $49.47 and a one year high of $84.54.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LPX. State of Michigan Retirement System raised its position in Louisiana-Pacific by 2.6% during the first quarter. State of Michigan Retirement System now owns 15,758 shares of the building manufacturing company’s stock valued at $1,322,000 after purchasing an additional 400 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Louisiana-Pacific by 48,193.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 162,267 shares of the building manufacturing company’s stock valued at $13,616,000 after purchasing an additional 161,931 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new stake in Louisiana-Pacific during the 1st quarter valued at $200,000. First Hawaiian Bank lifted its position in Louisiana-Pacific by 22.0% in the first quarter. First Hawaiian Bank now owns 10,481 shares of the building manufacturing company’s stock worth $879,000 after buying an additional 1,890 shares during the last quarter. Finally, Moody National Bank Trust Division lifted its position in Louisiana-Pacific by 20.9% in the first quarter. Moody National Bank Trust Division now owns 7,812 shares of the building manufacturing company’s stock worth $656,000 after buying an additional 1,350 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Insider Activity

In related news, Director Lizanne C. Gottung sold 2,500 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $77.58, for a total value of $193,950.00. Following the sale, the director now owns 25,995 shares in the company, valued at $2,016,692.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.26% of the company’s stock.

Louisiana-Pacific Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.44%. This is a boost from Louisiana-Pacific’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, February 22nd. Louisiana-Pacific’s dividend payout ratio is 42.45%.

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.