UFP Industries, Inc. (NASDAQ:UFPI) Expected to Post Earnings of $1.84 Per Share

Equities analysts expect UFP Industries, Inc. (NASDAQ:UFPI) to announce $1.84 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for UFP Industries’ earnings, with the lowest EPS estimate coming in at $1.65 and the highest estimate coming in at $2.08. UFP Industries reported earnings of $1.08 per share during the same quarter last year, which would indicate a positive year over year growth rate of 70.4%. The firm is expected to announce its next quarterly earnings results on Wednesday, July 28th.

On average, analysts expect that UFP Industries will report full year earnings of $6.34 per share for the current financial year, with EPS estimates ranging from $5.93 to $6.74. For the next year, analysts expect that the company will report earnings of $6.45 per share, with EPS estimates ranging from $5.97 to $7.00. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for UFP Industries.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Tuesday, April 20th. The construction company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.79. UFP Industries had a return on equity of 21.29% and a net margin of 5.21%. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The firm’s revenue for the quarter was up 76.8% compared to the same quarter last year.

UFPI has been the topic of several research reports. BMO Capital Markets upped their price target on UFP Industries from $57.00 to $66.00 in a research note on Wednesday, March 3rd. Zacks Investment Research raised UFP Industries from a “hold” rating to a “strong-buy” rating and set a $73.00 target price on the stock in a research note on Tuesday, March 2nd. Stifel Nicolaus assumed coverage on UFP Industries in a research note on Tuesday, March 9th. They issued a “buy” rating and a $75.00 target price on the stock. Benchmark increased their price target on UFP Industries from $80.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, April 22nd. Finally, Wedbush increased their price target on UFP Industries from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, April 22nd. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $79.33.

Shares of UFPI traded down $0.89 during trading hours on Thursday, hitting $73.54. 12,664 shares of the stock traded hands, compared to its average volume of 363,641. The company has a quick ratio of 1.50, a current ratio of 2.84 and a debt-to-equity ratio of 0.27. UFP Industries has a 1-year low of $42.83 and a 1-year high of $89.97. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 14.83 and a beta of 1.53. The firm has a fifty day simple moving average of $80.72.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, May 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.82%. UFP Industries’s payout ratio is presently 15.00%.

In related news, Director William G. Currie sold 25,000 shares of the stock in a transaction dated Friday, April 23rd. The stock was sold at an average price of $80.57, for a total transaction of $2,014,250.00. Also, CFO Michael R. Cole sold 6,656 shares of the stock in a transaction dated Friday, April 23rd. The stock was sold at an average price of $81.25, for a total value of $540,800.00. Over the last quarter, insiders have sold 45,981 shares of company stock valued at $3,664,518. 3.53% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of UFPI. First Trust Advisors LP grew its holdings in shares of UFP Industries by 81.1% during the first quarter. First Trust Advisors LP now owns 113,362 shares of the construction company’s stock worth $3,388,000 after buying an additional 50,777 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in UFP Industries in the first quarter valued at approximately $140,000. Dupont Capital Management Corp bought a new position in UFP Industries in the fourth quarter valued at approximately $1,504,000. Comerica Bank grew its stake in UFP Industries by 1.1% in the fourth quarter. Comerica Bank now owns 65,321 shares of the construction company’s stock valued at $3,936,000 after purchasing an additional 687 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in UFP Industries by 23.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,981 shares of the construction company’s stock valued at $443,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 80.10% of the company’s stock.

UFP Industries Company Profile

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. The company offers preserved and unpreserved dimensional lumber; outdoor living products, including wood and wood composite decking and related accessories, and decorative lawn and garden products; and engineered wood components, which include roof and floor trusses, wall panels, engineered floor systems, I-joists, and lumber packages.

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Earnings History and Estimates for UFP Industries (NASDAQ:UFPI)

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