Q1 2024 EPS Estimates for Louisiana-Pacific Co. (NYSE:LPX) Increased by Analyst

Louisiana-Pacific Co. (NYSE:LPX) – Equities research analysts at Seaport Res Ptn raised their Q1 2024 earnings estimates for shares of Louisiana-Pacific in a report released on Monday, April 15th. Seaport Res Ptn analyst M. Weintraub now forecasts that the building manufacturing company will post earnings of $1.13 per share for the quarter, up from their previous forecast of $1.00. 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 Q3 2024 earnings at $1.07 EPS and Q4 2024 earnings at $0.80 EPS.

Several other equities research analysts also recently issued reports on LPX. Truist Financial raised their target price on shares of Louisiana-Pacific from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. TheStreet cut shares of Louisiana-Pacific from a “b-” rating to a “c+” rating in a research note on Thursday, February 29th. Royal Bank of Canada upped their price target on shares of Louisiana-Pacific from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. DA Davidson restated a “buy” rating and set a $76.00 price objective on shares of Louisiana-Pacific in a report on Tuesday, February 13th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $75.00 target price 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.71.

Louisiana-Pacific Price Performance

NYSE:LPX opened at $72.02 on Wednesday. The stock has a market capitalization of $5.21 billion, a PE ratio of 29.40 and a beta of 1.84. Louisiana-Pacific has a 1-year low of $49.47 and a 1-year high of $84.54. The firm has a fifty day simple moving average of $76.10 and a 200 day simple moving average of $67.11. The company has a current ratio of 3.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.22.

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

Louisiana-Pacific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors 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 dividend yield of 1.44%. The ex-dividend date of this dividend was Thursday, February 22nd. Louisiana-Pacific’s payout ratio is 42.45%.

Insider Buying and Selling

In related news, Director Lizanne C. Gottung sold 2,500 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $77.58, for a total value of $193,950.00. Following the transaction, 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 can be accessed through the SEC website. 1.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. State of Michigan Retirement System boosted its holdings in shares of Louisiana-Pacific by 2.6% in the 1st 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 in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Louisiana-Pacific by 48,193.8% in the first 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 period. Folger Nolan Fleming Douglas Capital Management Inc. acquired a new position in Louisiana-Pacific during the 1st quarter worth about $200,000. First Hawaiian Bank grew its position in shares of Louisiana-Pacific by 22.0% in the 1st quarter. First Hawaiian Bank now owns 10,481 shares of the building manufacturing company’s stock valued at $879,000 after buying an additional 1,890 shares during the last quarter. Finally, Moody National Bank Trust Division grew its position in shares of Louisiana-Pacific by 20.9% in the 1st quarter. Moody National Bank Trust Division now owns 7,812 shares of the building manufacturing company’s stock valued at $656,000 after buying an additional 1,350 shares during the last quarter. 94.73% of the stock is owned by 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.