Seaport Global Securities Analysts Lift Earnings Estimates for Louisiana-Pacific Co. (NYSE:LPX)

Louisiana-Pacific Co. (NYSE:LPX) – Investment analysts at Seaport Global Securities lifted their Q2 2020 earnings per share (EPS) estimates for shares of Louisiana-Pacific in a note issued to investors on Tuesday, February 11th. Seaport Global Securities analyst M. Weintraub now expects that the building manufacturing company will post earnings of $0.71 per share for the quarter, up from their previous forecast of $0.68.

Louisiana-Pacific (NYSE:LPX) last posted its earnings results on Tuesday, February 11th. The building manufacturing company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.05). Louisiana-Pacific had a return on equity of 4.93% and a net margin of 2.67%. The firm had revenue of $537.00 million during the quarter, compared to the consensus estimate of $561.45 million. During the same quarter in the previous year, the company earned $0.19 EPS. The business’s revenue was down 8.8% compared to the same quarter last year.

Several other analysts have also issued reports on the stock. ValuEngine lowered shares of Louisiana-Pacific from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Bank of America upgraded shares of Louisiana-Pacific from a “buy” rating to a “neutral” rating in a research report on Thursday, January 2nd. TD Securities increased their price target on shares of Louisiana-Pacific from $31.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday. BMO Capital Markets increased their price target on shares of Louisiana-Pacific from $28.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada increased their price target on shares of Louisiana-Pacific to $35.00 and gave the company a “top pick” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Louisiana-Pacific has an average rating of “Hold” and an average target price of $31.25.

NYSE LPX opened at $34.18 on Thursday. Louisiana-Pacific has a 1 year low of $21.82 and a 1 year high of $34.28. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.52 and a quick ratio of 2.32. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 71.21 and a beta of 1.44. The company has a fifty day moving average price of $31.13 and a 200-day moving average price of $27.60.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its holdings in Louisiana-Pacific by 40.1% during the third quarter. Russell Investments Group Ltd. now owns 464,072 shares of the building manufacturing company’s stock valued at $11,410,000 after purchasing an additional 132,782 shares during the last quarter. Millennium Management LLC lifted its holdings in Louisiana-Pacific by 715.9% during the third quarter. Millennium Management LLC now owns 4,322,397 shares of the building manufacturing company’s stock valued at $106,244,000 after purchasing an additional 3,792,636 shares during the last quarter. Brasada Capital Management LP purchased a new stake in Louisiana-Pacific during the third quarter valued at about $184,000. Owl Creek Asset Management L.P. lifted its holdings in Louisiana-Pacific by 2.5% during the third quarter. Owl Creek Asset Management L.P. now owns 2,090,040 shares of the building manufacturing company’s stock valued at $51,373,000 after purchasing an additional 51,700 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in Louisiana-Pacific by 89.1% during the third quarter. Parametric Portfolio Associates LLC now owns 416,067 shares of the building manufacturing company’s stock valued at $10,227,000 after purchasing an additional 196,094 shares during the last quarter. 96.61% of the stock is currently owned by institutional investors and hedge funds.

In other Louisiana-Pacific news, Director Gary Cook sold 10,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $29.95, for a total transaction of $299,500.00. Following the sale, the director now directly owns 44,462 shares of the company’s stock, valued at $1,331,636.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William Bradley Southern acquired 3,745 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were acquired at an average cost of $29.36 per share, for a total transaction of $109,953.20. Following the completion of the acquisition, the chief executive officer now owns 252,431 shares of the company’s stock, valued at $7,411,374.16. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by corporate insiders.

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 18th will be given a dividend of $0.145 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.58 annualized dividend and a yield of 1.70%. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.14. Louisiana-Pacific’s dividend payout ratio is presently 19.71%.

About Louisiana-Pacific

Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It also markets and sells products for use in light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.

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