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

Louisiana-Pacific Co. (NYSE:LPX) – Investment analysts at Seaport Res Ptn increased their Q2 2024 earnings per share (EPS) estimates for Louisiana-Pacific in a research note issued on Monday, April 15th. Seaport Res Ptn analyst M. Weintraub now anticipates that the building manufacturing company will post earnings of $1.80 per share for the quarter, up from their prior forecast of $1.02. The consensus estimate for Louisiana-Pacific’s current full-year earnings is $4.12 per share. Seaport Res Ptn also issued estimates for Louisiana-Pacific’s FY2024 earnings at $4.80 EPS.

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

Louisiana-Pacific Stock Up 0.1 %

Shares of Louisiana-Pacific stock opened at $72.11 on Thursday. Louisiana-Pacific has a 12 month low of $49.47 and a 12 month high of $84.54. The company has a quick ratio of 1.54, a current ratio of 3.00 and a debt-to-equity ratio of 0.22. The stock has a market cap of $5.21 billion, a PE ratio of 29.43 and a beta of 1.84. The business has a fifty day simple moving average of $76.15 and a 200 day simple moving average of $67.23.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Wednesday, February 14th. The building manufacturing company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $618.60 million. During the same period in the previous year, the firm earned $0.61 earnings per share. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year.

Hedge Funds Weigh In On Louisiana-Pacific

A number of hedge funds have recently added to or reduced their stakes in LPX. Neuberger Berman Group LLC lifted its position in shares of Louisiana-Pacific by 0.6% during the 4th quarter. Neuberger Berman Group LLC now owns 32,177 shares of the building manufacturing company’s stock worth $1,905,000 after buying an additional 189 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Louisiana-Pacific by 2.5% during the 1st quarter. Captrust Financial Advisors now owns 9,020 shares of the building manufacturing company’s stock worth $560,000 after buying an additional 220 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Louisiana-Pacific by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 80,376 shares of the building manufacturing company’s stock worth $5,693,000 after buying an additional 245 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Louisiana-Pacific by 4.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,532 shares of the building manufacturing company’s stock worth $392,000 after buying an additional 250 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in shares of Louisiana-Pacific by 7.9% during the 2nd quarter. IFP Advisors Inc now owns 3,469 shares of the building manufacturing company’s stock worth $260,000 after buying an additional 254 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Insider Buying and Selling

In other news, Director Lizanne C. Gottung sold 2,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was 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 directly owns 25,995 shares in the company, valued at approximately $2,016,692.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.26% of the stock is owned by corporate insiders.

Louisiana-Pacific Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a dividend of $0.26 per share. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 1.44%. The ex-dividend date was Thursday, February 22nd. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 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.