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

Louisiana-Pacific Co. (NYSE:LPX) – Seaport Res Ptn lifted their Q2 2024 EPS estimates for Louisiana-Pacific in a research note issued to investors on Monday, April 15th. Seaport Res Ptn analyst M. Weintraub now forecasts that the building manufacturing company will post earnings per share of $1.80 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 also recently issued reports on the stock. TheStreet downgraded shares of Louisiana-Pacific from a “b-” rating to a “c+” rating in a research note on Thursday, February 29th. Truist Financial lifted their price target on shares of Louisiana-Pacific from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. Royal Bank of Canada boosted their price objective on shares of Louisiana-Pacific from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. DA Davidson restated a “buy” rating and set a $76.00 price objective on shares of Louisiana-Pacific in a research report on Tuesday, February 13th. Finally, TD Cowen restated a “hold” rating and set a $75.00 price objective on shares of Louisiana-Pacific in a research report on Thursday, January 11th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $73.71.

Louisiana-Pacific Trading Up 0.1 %

Shares of LPX stock opened at $72.11 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.54 and a current ratio of 3.00. The stock has a market capitalization of $5.21 billion, a P/E ratio of 29.43 and a beta of 1.84. The company has a 50 day moving average price of $76.15 and a 200 day moving average price of $67.23. Louisiana-Pacific has a fifty-two week low of $49.47 and a fifty-two week high of $84.54.

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

Louisiana-Pacific Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a $0.26 dividend. This is a boost 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 of this dividend was Thursday, February 22nd. Louisiana-Pacific’s payout ratio is currently 42.45%.

Insider Buying and Selling at Louisiana-Pacific

In other Louisiana-Pacific 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 transaction, the director now directly owns 25,995 shares of the company’s stock, valued at approximately $2,016,692.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Louisiana-Pacific

Several institutional investors have recently bought and sold shares of the company. Zions Bancorporation N.A. acquired a new position in shares of Louisiana-Pacific during the 1st quarter worth $25,000. Larson Financial Group LLC acquired a new position in shares of Louisiana-Pacific during the 3rd quarter worth $37,000. Atlas Capital Advisors LLC acquired a new position in shares of Louisiana-Pacific during the 2nd quarter worth $42,000. State of Wyoming acquired a new position in shares of Louisiana-Pacific during the 4th quarter worth $49,000. Finally, Rockefeller Capital Management L.P. grew its stake in Louisiana-Pacific by 125.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 880 shares of the building manufacturing company’s stock valued at $50,000 after acquiring an additional 490 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

About Louisiana-Pacific

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.