DA Davidson Expects Higher Earnings for Louisiana-Pacific

Louisiana-Pacific Co. (NYSE:LPX) – Equities research analysts at DA Davidson increased their Q3 2024 earnings estimates for Louisiana-Pacific in a research report issued to clients and investors on Thursday, October 24th. DA Davidson analyst K. Yinger now anticipates that the building manufacturing company will earn $0.94 per share for the quarter, up from their previous forecast of $0.88. The consensus estimate for Louisiana-Pacific’s current full-year earnings is $5.04 per share.

Several other equities research analysts have also recently commented on the stock. The Goldman Sachs Group boosted their price target on shares of Louisiana-Pacific from $78.00 to $86.00 and gave the stock a “sell” rating in a research report on Thursday, August 8th. StockNews.com upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Bank of America boosted their price objective on Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. BMO Capital Markets downgraded Louisiana-Pacific from an “outperform” rating to a “market perform” rating and set a $99.00 price objective on the stock. in a report on Thursday, August 8th. Finally, Truist Financial boosted their price objective on Louisiana-Pacific from $105.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Louisiana-Pacific has a consensus rating of “Hold” and an average price target of $93.56.

Louisiana-Pacific Price Performance

Shares of Louisiana-Pacific stock opened at $102.22 on Monday. The company has a current ratio of 3.38, a quick ratio of 1.95 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $100.79 and its two-hundred day moving average price is $91.54. Louisiana-Pacific has a 52 week low of $49.47 and a 52 week high of $109.73. The stock has a market cap of $7.33 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 4.63 and a beta of 1.88.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings data on Wednesday, August 7th. The building manufacturing company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.23. Louisiana-Pacific had a net margin of 15.22% and a return on equity of 27.09%. The business had revenue of $814.00 million during the quarter, compared to the consensus estimate of $797.26 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 33.2% compared to the same quarter last year.

Hedge Funds Weigh In On Louisiana-Pacific

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its holdings in Louisiana-Pacific by 48,193.8% during 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 last quarter. Russell Investments Group Ltd. grew its holdings in Louisiana-Pacific by 3.5% during the first quarter. Russell Investments Group Ltd. now owns 215,051 shares of the building manufacturing company’s stock valued at $18,045,000 after purchasing an additional 7,367 shares during the last quarter. Diversified Trust Co acquired a new position in Louisiana-Pacific during the second quarter valued at approximately $590,000. Ensign Peak Advisors Inc grew its holdings in Louisiana-Pacific by 57.6% during the second quarter. Ensign Peak Advisors Inc now owns 35,427 shares of the building manufacturing company’s stock valued at $2,917,000 after purchasing an additional 12,950 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Louisiana-Pacific by 16.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 46,648 shares of the building manufacturing company’s stock worth $3,914,000 after acquiring an additional 6,533 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Insider Activity

In related news, CEO William Bradley Southern sold 32,600 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $93.44, for a total value of $3,046,144.00. Following the transaction, the chief executive officer now owns 596,886 shares in the company, valued at approximately $55,773,027.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $98.30, for a total transaction of $245,750.00. Following the transaction, the director now owns 21,005 shares in the company, valued at $2,064,791.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William Bradley Southern sold 32,600 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $93.44, for a total value of $3,046,144.00. Following the transaction, the chief executive officer now owns 596,886 shares in the company, valued at approximately $55,773,027.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,900 shares of company stock worth $3,368,774 in the last 90 days. Company insiders own 1.26% of the company’s stock.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a $0.26 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.02%. Louisiana-Pacific’s dividend payout ratio is 28.57%.

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.