Q2 2024 Earnings Estimate for Louisiana-Pacific Co. Issued By DA Davidson (NYSE:LPX)

Louisiana-Pacific Co. (NYSE:LPX) – DA Davidson cut their Q2 2024 earnings per share (EPS) estimates for shares of Louisiana-Pacific in a report issued on Monday, June 17th. DA Davidson analyst K. Yinger now expects that the building manufacturing company will post earnings per share of $2.03 for the quarter, down from their previous estimate of $2.07. DA Davidson has a “Buy” rating and a $110.00 price objective on the stock. The consensus estimate for Louisiana-Pacific’s current full-year earnings is $5.79 per share. DA Davidson also issued estimates for Louisiana-Pacific’s FY2024 earnings at $5.75 EPS and FY2025 earnings at $4.46 EPS.

A number of other analysts have also weighed in on the company. BMO Capital Markets upped their target price on Louisiana-Pacific from $83.00 to $99.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. The Goldman Sachs Group lowered Louisiana-Pacific from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $89.00 to $81.00 in a research note on Monday. Seaport Res Ptn downgraded Louisiana-Pacific from a “buy” rating to a “neutral” rating in a research report on Thursday, May 9th. Loop Capital initiated coverage on Louisiana-Pacific in a research report on Friday, May 3rd. They set a “hold” rating and a $82.00 price target on the stock. Finally, TheStreet cut Louisiana-Pacific from a “b-” rating to a “c+” rating in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $87.11.

Louisiana-Pacific Stock Down 0.2 %

Shares of NYSE:LPX opened at $88.67 on Tuesday. Louisiana-Pacific has a 52-week low of $49.47 and a 52-week high of $95.70. The stock has a market cap of $6.36 billion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 11.97 and a beta of 1.92. The business’s 50 day moving average is $83.93 and its 200 day moving average is $75.98. The company has a quick ratio of 1.75, a current ratio of 3.32 and a debt-to-equity ratio of 0.21.

Louisiana-Pacific (NYSE:LPX) last posted its earnings results on Wednesday, May 8th. The building manufacturing company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.40. The company had revenue of $724.00 million for the quarter, compared to the consensus estimate of $686.84 million. Louisiana-Pacific had a return on equity of 20.87% and a net margin of 9.74%. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 earnings per share.

Louisiana-Pacific Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.17%. Louisiana-Pacific’s payout ratio is currently 28.57%.

Insider Buying and Selling

In related news, Director Lizanne C. Gottung sold 3,591 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $89.18, for a total value of $320,245.38. Following the completion of the sale, the director now directly owns 23,501 shares of the company’s stock, valued at $2,095,819.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.53% of the company’s stock.

Institutional Investors Weigh In On Louisiana-Pacific

Institutional investors and hedge funds have recently made changes to their positions in the business. Westwood Holdings Group Inc. purchased a new position in shares of Louisiana-Pacific during the first quarter valued at approximately $15,649,000. Cetera Advisors LLC purchased a new position in shares of Louisiana-Pacific during the first quarter valued at approximately $400,000. Burney Co. purchased a new position in Louisiana-Pacific during the first quarter worth approximately $229,000. Swedbank AB purchased a new position in Louisiana-Pacific during the first quarter worth approximately $777,000. Finally, Virtu Financial LLC purchased a new position in Louisiana-Pacific during the first quarter worth approximately $827,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

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.