DA Davidson Comments on Louisiana-Pacific Co.’s FY2024 Earnings (NYSE:LPX)

Louisiana-Pacific Co. (NYSE:LPX) – Equities researchers at DA Davidson raised their FY2024 earnings estimates for Louisiana-Pacific in a research note issued on Thursday, April 25th. DA Davidson analyst K. Yinger now expects that the building manufacturing company will post earnings per share of $5.39 for the year, up from their prior forecast of $3.71. DA Davidson currently has a “Buy” rating and a $76.00 price target on the stock. The consensus estimate for Louisiana-Pacific’s current full-year earnings is $4.89 per share.

LPX has been the topic of several other research reports. 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. TD Securities upped their target price on Louisiana-Pacific from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, February 15th. Truist Financial upped their target price on 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 increased their price target on Louisiana-Pacific from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Finally, TheStreet cut Louisiana-Pacific from a “b-” rating to a “c+” rating in a research note on Thursday, February 29th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.71.

Louisiana-Pacific Price Performance

Shares of NYSE LPX opened at $74.57 on Monday. The business’s 50 day moving average price is $76.62 and its two-hundred day moving average price is $68.16. The company has a market cap of $5.39 billion, a PE ratio of 30.44 and a beta of 1.84. The company has a quick ratio of 1.54, a current ratio of 3.00 and a debt-to-equity ratio of 0.22. Louisiana-Pacific has a twelve month low of $49.47 and a twelve month high of $84.54.

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

Institutional Investors Weigh In On Louisiana-Pacific

A number of hedge funds have recently modified their holdings of the stock. Riverwater Partners LLC bought a new stake in shares of Louisiana-Pacific in the 1st quarter worth approximately $472,000. LifeSteps Financial Inc. purchased a new position in shares of Louisiana-Pacific during the 1st quarter valued at $25,000. Simplicity Wealth LLC purchased a new position in shares of Louisiana-Pacific during the 1st quarter valued at $248,000. Louisiana State Employees Retirement System grew its position in shares of Louisiana-Pacific by 2.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 18,500 shares of the building manufacturing company’s stock valued at $1,552,000 after purchasing an additional 500 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its stake in Louisiana-Pacific by 32.8% in the first quarter. Nations Financial Group Inc. IA ADV now owns 5,540 shares of the building manufacturing company’s stock worth $465,000 after purchasing an additional 1,369 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Insiders Place Their Bets

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of Louisiana-Pacific stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $77.58, for a total transaction of $193,950.00. Following the transaction, the director now owns 25,995 shares of the company’s stock, valued at approximately $2,016,692.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.26% of the company’s stock.

Louisiana-Pacific Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a dividend of $0.26 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.04 annualized dividend and a dividend yield of 1.39%. This is a boost from Louisiana-Pacific’s previous quarterly dividend of $0.24. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 42.45%.

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.