Louisiana-Pacific Co. (NYSE:LPX) gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. 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 (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.15. The firm 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 company’s revenue was up 29.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Monday, February 26th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.52 annualized dividend and a dividend yield of 1.73%.
Several hedge funds have recently made changes to their positions in LPX. Public Employees Retirement System of Ohio boosted its holdings in shares of Louisiana-Pacific by 1.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,798 shares of the construction company’s stock worth $140,000 after buying an additional 56 shares during the period. Greenwood Capital Associates LLC bought a new stake in shares of Louisiana-Pacific during the 3rd quarter worth about $202,000. MANA Advisors LLC bought a new stake in shares of Louisiana-Pacific during the 4th quarter worth about $209,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Louisiana-Pacific by 43.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,172 shares of the construction company’s stock worth $215,000 after buying an additional 2,481 shares during the period. Finally, Moors & Cabot Inc. bought a new stake in shares of Louisiana-Pacific during the 4th quarter worth about $225,000. 92.31% of the stock is owned by institutional investors and hedge funds.
The company has a market cap of $4,360.00, a price-to-earnings ratio of 14.53, a P/E/G ratio of 2.74 and a beta of 1.62. The company has a debt-to-equity ratio of 0.24, a current ratio of 5.25 and a quick ratio of 4.31.
WARNING: This report was first published by Week Herald and is owned by of Week Herald. If you are reading this report on another site, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this report can be viewed at https://weekherald.com/2018/02/15/louisiana-pacific-lpx-shares-gap-up-after-better-than-expected-earnings.html.
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.
Receive News & Ratings for Louisiana-Pacific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Louisiana-Pacific and related companies with MarketBeat.com's FREE daily email newsletter.