Q2 2024 Earnings Forecast for Louisiana-Pacific Co. (NYSE:LPX) Issued By Seaport Res Ptn

Louisiana-Pacific Co. (NYSE:LPX) – Equities researchers at Seaport Res Ptn lifted their Q2 2024 earnings per share estimates for shares of Louisiana-Pacific in a research report issued to clients and investors 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 estimate of $1.02. 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 FY2024 earnings at $4.80 EPS.

Several other equities analysts have also issued reports on LPX. DA Davidson reaffirmed a “buy” rating and issued a $76.00 target price on shares of Louisiana-Pacific in a report on Tuesday, February 13th. TD Cowen reaffirmed a “hold” rating and issued a $75.00 target price on shares of Louisiana-Pacific in a report on Thursday, January 11th. Truist Financial upped their target price on Louisiana-Pacific from $75.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, January 4th. TheStreet lowered Louisiana-Pacific from a “b-” rating to a “c+” rating in a report on Thursday, February 29th. Finally, TD Securities upped their price objective on Louisiana-Pacific from $75.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, February 15th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.71.

Louisiana-Pacific Stock Performance

Shares of LPX opened at $72.76 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 50 day moving average price of $76.05 and a two-hundred day moving average price of $67.08. The firm has a market capitalization of $5.26 billion, a P/E ratio of 29.70 and a beta of 1.84. Louisiana-Pacific has a 52 week low of $49.47 and a 52 week high of $84.54.

Louisiana-Pacific (NYSE:LPX) last issued 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. The firm had revenue of $658.00 million during 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%. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 EPS.

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 issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.43%. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, February 22nd. Louisiana-Pacific’s dividend payout ratio is 42.45%.

Insider Buying and Selling at Louisiana-Pacific

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $77.58, for a total transaction of $193,950.00. Following the completion of the transaction, the director now directly owns 25,995 shares of the company’s stock, valued at $2,016,692.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Louisiana-Pacific

Large investors have recently made changes to their positions in the stock. Zions Bancorporation N.A. bought a new position in shares of Louisiana-Pacific in the first quarter worth $25,000. Larson Financial Group LLC bought a new position in shares of Louisiana-Pacific in the third quarter worth $37,000. Atlas Capital Advisors LLC bought a new position in shares of Louisiana-Pacific in the second quarter worth $42,000. State of Wyoming bought a new position in shares of Louisiana-Pacific in the fourth quarter worth $49,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Louisiana-Pacific by 125.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 880 shares of the building manufacturing company’s stock worth $50,000 after acquiring an additional 490 shares during the period. 94.73% of the stock is owned by 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.