Louisiana-Pacific Co. (NYSE:LPX) – Investment analysts at DA Davidson reduced their FY2018 earnings estimates for shares of Louisiana-Pacific in a research report issued to clients and investors on Wednesday, November 7th. DA Davidson analyst S. Chercover now expects that the construction company will post earnings of $2.92 per share for the year, down from their prior estimate of $2.94. DA Davidson also issued estimates for Louisiana-Pacific’s Q4 2018 earnings at $0.37 EPS, Q1 2019 earnings at $0.41 EPS, Q3 2019 earnings at $0.73 EPS, Q4 2019 earnings at $0.49 EPS and FY2019 earnings at $2.24 EPS.
Other analysts also recently issued research reports about the company. Longbow Research restated a “hold” rating on shares of Louisiana-Pacific in a report on Tuesday, October 9th. ValuEngine cut Louisiana-Pacific from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Zacks Investment Research cut Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 10th. Seaport Global Securities assumed coverage on Louisiana-Pacific in a research note on Tuesday, October 23rd. They set a “buy” rating and a $31.00 target price on the stock. Finally, Bank of America raised Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Monday, July 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $32.13.
Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.17. The firm had revenue of $736.80 million for the quarter, compared to the consensus estimate of $724.92 million. Louisiana-Pacific had a return on equity of 27.84% and a net margin of 17.23%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.70 EPS.
A number of large investors have recently added to or reduced their stakes in LPX. Legal & General Group Plc grew its stake in shares of Louisiana-Pacific by 35.2% in the 1st quarter. Legal & General Group Plc now owns 173,428 shares of the construction company’s stock valued at $4,990,000 after buying an additional 45,139 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Louisiana-Pacific by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 642,424 shares of the construction company’s stock valued at $18,483,000 after buying an additional 15,148 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of Louisiana-Pacific by 14.9% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 20,876 shares of the construction company’s stock valued at $568,000 after buying an additional 2,700 shares in the last quarter. Columbia Partners L L C Investment Management bought a new stake in shares of Louisiana-Pacific in the 2nd quarter valued at approximately $1,076,000. Finally, Bank of Montreal Can grew its stake in shares of Louisiana-Pacific by 2.8% in the 2nd quarter. Bank of Montreal Can now owns 405,172 shares of the construction company’s stock valued at $11,029,000 after buying an additional 10,870 shares in the last quarter. 92.63% of the stock is currently owned by institutional investors.
In other Louisiana-Pacific news, CEO William Bradley Southern sold 12,042 shares of Louisiana-Pacific stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $31.00, for a total transaction of $373,302.00. Following the transaction, the chief executive officer now owns 196,518 shares of the company’s stock, valued at approximately $6,092,058. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Neil Sherman sold 7,430 shares of Louisiana-Pacific stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $31.74, for a total value of $235,828.20. Following the transaction, the executive vice president now directly owns 51,708 shares in the company, valued at approximately $1,641,211.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,287 shares of company stock worth $1,180,736. Company insiders own 1.48% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 16th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $0.52 annualized dividend and a yield of 2.22%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 22.32%.
Louisiana-Pacific announced that its Board of Directors has approved a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Louisiana-Pacific Company Profile
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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