Seaport Global Securities Equities Analysts Decrease Earnings Estimates for Louisiana-Pacific Co. (NYSE:LPX)
Louisiana-Pacific Co. (NYSE:LPX) – Equities researchers at Seaport Global Securities dropped their Q4 2020 earnings per share (EPS) estimates for shares of Louisiana-Pacific in a research report issued to clients and investors on Tuesday, February 11th. Seaport Global Securities analyst M. Weintraub now forecasts that the building manufacturing company will post earnings per share of $0.49 for the quarter, down from their prior forecast of $0.54.
A number of other brokerages also recently issued reports on LPX. Stephens downgraded shares of Louisiana-Pacific from an “overweight” rating to an “equal weight” rating and set a $32.00 price target for the company. in a research note on Tuesday, January 21st. Royal Bank of Canada boosted their price objective on shares of Louisiana-Pacific to $35.00 and gave the company a “top pick” rating in a research note on Wednesday, November 6th. Bank of America upgraded shares of Louisiana-Pacific from a “buy” rating to a “neutral” rating in a research report on Thursday, January 2nd. TheStreet lowered shares of Louisiana-Pacific from a “b” rating to a “c+” rating in a research report on Wednesday, November 6th. Finally, TD Securities boosted their target price on shares of Louisiana-Pacific from $31.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $31.25.
Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings data 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). The company had revenue of $537.00 million for the quarter, compared to analysts’ expectations of $561.45 million. Louisiana-Pacific had a net margin of 2.67% and a return on equity of 4.93%. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.19 earnings per share.
Several hedge funds and other institutional investors have recently bought and sold shares of LPX. Russell Investments Group Ltd. increased its position in Louisiana-Pacific by 40.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 464,072 shares of the building manufacturing company’s stock worth $11,410,000 after purchasing an additional 132,782 shares in the last quarter. Millennium Management LLC boosted its holdings in Louisiana-Pacific by 715.9% in the 3rd quarter. Millennium Management LLC now owns 4,322,397 shares of the building manufacturing company’s stock worth $106,244,000 after acquiring an additional 3,792,636 shares during the period. Brasada Capital Management LP purchased a new position in Louisiana-Pacific in the 3rd quarter worth approximately $184,000. Owl Creek Asset Management L.P. boosted its holdings in Louisiana-Pacific by 2.5% in the 3rd quarter. Owl Creek Asset Management L.P. now owns 2,090,040 shares of the building manufacturing company’s stock worth $51,373,000 after acquiring an additional 51,700 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its holdings in Louisiana-Pacific by 89.1% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 416,067 shares of the building manufacturing company’s stock worth $10,227,000 after acquiring an additional 196,094 shares during the period. 96.61% of the stock is owned by institutional investors.
In related news, CEO William Bradley Southern acquired 3,745 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was bought at an average price of $29.36 per share, with a total value of $109,953.20. Following the purchase, the chief executive officer now directly owns 252,431 shares in the company, valued at approximately $7,411,374.16. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the director now directly owns 44,462 shares of the company’s stock, valued at approximately $1,331,636.90. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.145 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.73%. This is an increase from Louisiana-Pacific’s previous quarterly dividend of $0.14. Louisiana-Pacific’s dividend payout ratio is currently 19.71%.
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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