Louisiana-Pacific (NYSE:LPX) Stock Price Up 4.8% on Earnings Beat

Louisiana-Pacific Co. (NYSE:LPX - Get Free Report) traded up 4.8% during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $91.49 and last traded at $91.73. 159,837 shares traded hands during trading, a decline of 78% from the average session volume of 734,486 shares. The stock had previously closed at $87.53.

The building manufacturing company reported $1.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.14. The business had revenue of $724.00 million for the quarter, compared to the consensus estimate of $711.66 million. Louisiana-Pacific had a return on equity of 25.35% and a net margin of 14.31%. The business's quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.53 earnings per share.

Louisiana-Pacific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were issued a $0.28 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from Louisiana-Pacific's previous quarterly dividend of $0.26. Louisiana-Pacific's dividend payout ratio (DPR) is currently 19.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LPX. TD Securities cut their price objective on Louisiana-Pacific from $123.00 to $117.00 and set a "hold" rating on the stock in a report on Thursday, February 20th. Loop Capital dropped their price target on shares of Louisiana-Pacific from $117.00 to $110.00 and set a "hold" rating on the stock in a research report on Monday, February 24th. Truist Financial decreased their target price on Louisiana-Pacific from $126.00 to $112.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Royal Bank of Canada reissued an "outperform" rating and issued a $125.00 price objective on shares of Louisiana-Pacific in a research note on Thursday, February 20th. Finally, DA Davidson lowered their target price on shares of Louisiana-Pacific from $125.00 to $123.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $108.63.

Institutional Investors Weigh In On Louisiana-Pacific

Several hedge funds have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Louisiana-Pacific during the 1st quarter worth $2,295,000. Allianz Asset Management GmbH boosted its stake in shares of Louisiana-Pacific by 252.2% during the first quarter. Allianz Asset Management GmbH now owns 682,164 shares of the building manufacturing company's stock valued at $62,746,000 after acquiring an additional 488,458 shares during the last quarter. Gallacher Capital Management LLC acquired a new stake in Louisiana-Pacific during the first quarter worth approximately $267,000. IFP Advisors Inc lifted its stake in shares of Louisiana-Pacific by 47.0% during the 1st quarter. IFP Advisors Inc now owns 3,883 shares of the building manufacturing company's stock worth $357,000 after purchasing an additional 1,242 shares during the period. Finally, Greenhaven Road Investment Management L.P. lifted its position in Louisiana-Pacific by 28.6% during the first quarter. Greenhaven Road Investment Management L.P. now owns 194,917 shares of the building manufacturing company's stock worth $17,928,000 after buying an additional 43,300 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

Louisiana-Pacific Stock Performance

The stock's 50 day moving average price is $89.62 and its 200 day moving average price is $103.00. The company has a market cap of $6.38 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 1.24 and a beta of 1.94. The company has a current ratio of 2.86, a quick ratio of 1.69 and a debt-to-equity ratio of 0.21.

About Louisiana-Pacific

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.

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