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LPX

Louisiana-Pacific

$24.28

0.27 (1.12%)

06:59
02/13/19
02/13
06:59
02/13/19
06:59

Louisiana-Pacific authorizes new $600M share repurchase program

Strategic Update and Capital Allocation Plan: LP re-affirms its long-term SmartSide Strand revenue growth target of 12%-14%. Target of $75M of increased EBITDA by 2021 via operational improvement initiatives, supply chain optimization, and management structure transition. Authorization of a new $600M share repurchase program, including the intent to initially enter into a $400M accelerated share repurchase program. This is expected to result in LP repurchasing $638M of stock during 2019 when combined with the $38M outstanding under the previous $250M stock repurchase authorizations. 4% increase in the quarterly cash dividend to 13.5c per share. Commitment to return over time to shareholders at least 50% of cash flow from operations in excess of capital expenditures required to sustain our core business and grow Siding and value-added OSB.

  • 13

    Feb

LPX Louisiana-Pacific
$24.28

0.27 (1.12%)

01/02/19
BOFA
01/02/19
DOWNGRADE
BOFA
Neutral
Louisiana-Pacific downgraded to Neutral from Buy at BofA/Merrill
01/02/19
BOFA
01/02/19
DOWNGRADE
BOFA
Neutral
Louisiana-Pacific downgraded to Neutral at BofA/Merrill
As previously reported, BofA/Merrill downgraded Louisiana-Pacific to Neutral from Buy and cut its price target to $24 from $29. . Analyst George Staphos lowered 2019 estimates below consensus citing the steep drop-off in 2H 2018 panel pricing and challenging 1H 2019 comparisons versus 1H 2018. Staphos said consensus forecasts have not adjusted much since the Q3 report and expects estimates to move lower in early 2019 driven by increasing industry OSB supply as housing-related demand decelerates.
01/02/19
01/02/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Henry Schein (HSIC) downgraded to Neutral from Outperform at Baird with analyst Jeff Johnson saying he is more cautious on the combination of the dental sector's secular overhangs, softer Q4 patient volume checks, and accelerating equipment pricing pressures. 2. Conagra Brands (CAG) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Jason English saying while the stock's 41% decline since October 23 is overdone, the "path of recovery is likely to be protracted." 3. BioMarin (BMRN) downgraded to Market Perform from Outperform at Raymond James with analyst Laura Chico saying BioMarin lacks near-term catalysts which makes it more vulnerable in a "risk off" environment. 4. Hologic (HOLX) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst David Lewis saying his checks with about 40 medspas highlighted market saturation of body sculpting devices. 5. Louisiana-Pacific (LPX) downgraded to Neutral from Buy at BofA/Merrill with analyst George Staphos citing the steep drop-off in 2H 2018 panel pricing and challenging 1H 2019 comparisons versus 1H 2018. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/29/19
LBOW
01/29/19
NO CHANGE
LBOW
Neutral
Longbow lowers estimates for Louisiana-Pacific on soft OSB pricing
Longbow analyst Garik Shmois cut his estimates for Louisiana-Pacific, citing continued downward pressure on OSB prices in Q4 and weaker housing demand. He keeps a Neutral rating on Louisiana-Pacific shares, which he believes will remain range-bound in the $22-25 area until housing finds a floor.

TODAY'S FREE FLY STORIES

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ARGX

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BIIB

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MGLN

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MCRB

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TREE

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ANAB

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UAL

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RUTH

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MYGN

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TYL

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TROX

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LX

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