Louisiana-Pacific Co. (NYSE:LPX) – Equities research analysts at Seaport Global Securities lifted their FY2018 EPS estimates for Louisiana-Pacific in a research note issued to investors on Wednesday, November 7th. Seaport Global Securities analyst M. Weintraub now forecasts that the construction company will post earnings of $2.90 per share for the year, up from their prior estimate of $2.70. Seaport Global Securities has a “Buy” rating and a $31.00 price target on the stock. Seaport Global Securities also issued estimates for Louisiana-Pacific’s Q4 2018 earnings at $0.32 EPS, Q1 2019 earnings at $0.46 EPS, Q2 2019 earnings at $0.86 EPS, Q3 2019 earnings at $0.84 EPS and Q4 2019 earnings at $0.49 EPS.
Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings results on Tuesday, November 6th. The construction company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.17. The firm had revenue of $736.80 million during the quarter, compared to analysts’ expectations of $724.92 million. Louisiana-Pacific had a net margin of 17.23% and a return on equity of 27.84%. Louisiana-Pacific’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 EPS.
A number of other equities analysts also recently commented on LPX. Zacks Investment Research downgraded shares of Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 10th. Bank of America upgraded shares of Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Monday, July 16th. ValuEngine downgraded shares of Louisiana-Pacific from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Longbow Research restated a “hold” rating on shares of Louisiana-Pacific in a research report on Tuesday, October 9th. Finally, BMO Capital Markets upgraded shares of Louisiana-Pacific from an “underperform” rating to a “market perform” rating and cut their price objective for the stock from $27.00 to $24.00 in a research report on Monday, October 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $32.13.
Shares of NYSE:LPX opened at $23.99 on Friday. The firm has a market cap of $3.35 billion, a P/E ratio of 10.30, a price-to-earnings-growth ratio of 1.68 and a beta of 1.61. The company has a quick ratio of 4.57, a current ratio of 6.13 and a debt-to-equity ratio of 0.19. Louisiana-Pacific has a 1-year low of $20.89 and a 1-year high of $32.16.
Institutional investors and hedge funds have recently made changes to their positions in the company. Vident Investment Advisory LLC grew its position in shares of Louisiana-Pacific by 1.5% in the 2nd quarter. Vident Investment Advisory LLC now owns 115,040 shares of the construction company’s stock valued at $3,131,000 after buying an additional 1,725 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Louisiana-Pacific by 3.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 56,305 shares of the construction company’s stock worth $1,533,000 after acquiring an additional 1,997 shares during the period. Alpha Windward LLC lifted its stake in shares of Louisiana-Pacific by 11.9% in the 2nd quarter. Alpha Windward LLC now owns 19,133 shares of the construction company’s stock worth $521,000 after acquiring an additional 2,033 shares during the period. Zacks Investment Management lifted its stake in shares of Louisiana-Pacific by 2.9% in the 2nd quarter. Zacks Investment Management now owns 81,194 shares of the construction company’s stock worth $2,210,000 after acquiring an additional 2,302 shares during the period. Finally, NumerixS Investment Technologies Inc lifted its stake in shares of Louisiana-Pacific by 36.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 9,250 shares of the construction company’s stock worth $249,000 after acquiring an additional 2,450 shares during the period. Institutional investors and hedge funds own 92.63% of the company’s stock.
In other news, CEO William Bradley Southern sold 12,042 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $31.00, for a total value of $373,302.00. Following the completion of the transaction, the chief executive officer now owns 196,518 shares in the company, valued at approximately $6,092,058. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Neil Sherman sold 7,430 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $31.74, for a total transaction of $235,828.20. Following the completion of the transaction, the executive vice president now owns 51,708 shares of the company’s stock, valued at approximately $1,641,211.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,287 shares of company stock valued at $1,180,736. 1.48% of the stock is owned by insiders.
Louisiana-Pacific announced that its board has approved a stock buyback program on Tuesday, August 7th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to buy up to 3.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 16th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $0.52 dividend on an annualized basis and a yield of 2.17%. Louisiana-Pacific’s payout ratio is currently 22.32%.
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structures, as well as 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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