Louisiana-Pacific (LPX) Shares Gap Up on Better-Than-Expected Earnings

Louisiana-Pacific Co. (NYSE:LPX)’s share price gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $31.38, but opened at $30.45. Louisiana-Pacific shares last traded at $30.21, with a volume of 1164152 shares changing hands.

The construction company reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.15. The company had revenue of $710.60 million for the quarter, compared to analyst estimates of $654.26 million. Louisiana-Pacific had a net margin of 11.72% and a return on equity of 20.27%. The business’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Shareholders of record on Monday, February 26th will be issued a $0.13 dividend. The ex-dividend date is Friday, February 23rd. This represents a $0.52 annualized dividend and a yield of 1.72%.

LPX has been the topic of several analyst reports. Royal Bank of Canada reiterated a “buy” rating and issued a $37.00 target price on shares of Louisiana-Pacific in a report on Monday, October 30th. Bank of America upgraded shares of Louisiana-Pacific from an “underperform” rating to a “neutral” rating in a report on Wednesday, January 24th. Zacks Investment Research upgraded shares of Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Tuesday, January 9th. Vertical Research upgraded shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a report on Monday, November 6th. Finally, Stephens set a $31.00 target price on shares of Louisiana-Pacific and gave the stock a “hold” rating in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Louisiana-Pacific presently has an average rating of “Hold” and an average price target of $30.83.

Several hedge funds have recently modified their holdings of LPX. Public Employees Retirement System of Ohio increased its position in shares of Louisiana-Pacific by 1.0% during the second quarter. Public Employees Retirement System of Ohio now owns 5,798 shares of the construction company’s stock worth $140,000 after acquiring an additional 56 shares in the last quarter. Greenwood Capital Associates LLC bought a new stake in shares of Louisiana-Pacific during the third quarter worth $202,000. MANA Advisors LLC bought a new stake in shares of Louisiana-Pacific during the fourth quarter worth $209,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Louisiana-Pacific by 43.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,172 shares of the construction company’s stock worth $215,000 after acquiring an additional 2,481 shares in the last quarter. Finally, Moors & Cabot Inc. bought a new stake in shares of Louisiana-Pacific during the fourth quarter worth $225,000. 92.31% of the stock is owned by institutional investors.

The company has a quick ratio of 4.31, a current ratio of 5.25 and a debt-to-equity ratio of 0.24. The firm has a market cap of $4,120.20, a PE ratio of 14.70, a PEG ratio of 2.74 and a beta of 1.62.

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Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in home construction, repair and remodeling, and outdoor structures. The Company operates in four segments, which include North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America.

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