Zacks: Analysts Anticipate UFP Industries, Inc. (NASDAQ:UFPI) Will Post Earnings of $1.55 Per Share

Wall Street brokerages expect UFP Industries, Inc. (NASDAQ:UFPI) to announce $1.55 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for UFP Industries’ earnings. The lowest EPS estimate is $1.29 and the highest is $1.78. UFP Industries posted earnings per share of $1.25 during the same quarter last year, which would suggest a positive year over year growth rate of 24%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, October 20th.

On average, analysts expect that UFP Industries will report full-year earnings of $7.33 per share for the current fiscal year, with EPS estimates ranging from $6.86 to $7.70. For the next year, analysts expect that the company will post earnings of $6.62 per share, with EPS estimates ranging from $5.96 to $7.11. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow UFP Industries.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Tuesday, July 20th. The construction company reported $2.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.81 by $0.97. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.26 billion. UFP Industries had a net margin of 5.63% and a return on equity of 26.03%. UFP Industries’s quarterly revenue was up 117.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.08 EPS.

A number of analysts have commented on the stock. Zacks Investment Research upgraded shares of UFP Industries from a “hold” rating to a “strong-buy” rating and set a $84.00 price target for the company in a research note on Monday, July 26th. Sidoti upgraded shares of UFP Industries from a “neutral” rating to a “buy” rating and set a $93.00 price target for the company in a research note on Monday, July 19th. Finally, BMO Capital Markets boosted their price target on shares of UFP Industries from $76.00 to $82.00 and gave the company a “market perform” rating in a research note on Monday, July 26th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $85.14.

In related news, insider Patrick M. Benton sold 16,728 shares of the business’s stock in a transaction dated Friday, August 13th. The shares were sold at an average price of $75.46, for a total value of $1,262,294.88. Following the transaction, the insider now directly owns 98,027 shares of the company’s stock, valued at approximately $7,397,117.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.53% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp purchased a new stake in UFP Industries during the first quarter valued at about $27,000. Berman Capital Advisors LLC purchased a new stake in UFP Industries during the second quarter valued at about $30,000. Certified Advisory Corp purchased a new stake in UFP Industries during the first quarter valued at about $38,000. Maverick Capital Ltd. purchased a new stake in UFP Industries during the second quarter valued at about $44,000. Finally, Covington Capital Management purchased a new stake in UFP Industries during the second quarter valued at about $45,000. 80.04% of the stock is currently owned by institutional investors and hedge funds.

UFPI stock traded down $0.42 during midday trading on Thursday, reaching $70.09. 185,824 shares of the company’s stock traded hands, compared to its average volume of 321,656. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 10.43 and a beta of 1.51. The firm’s fifty day moving average price is $73.32 and its 200-day moving average price is $75.12. The company has a quick ratio of 1.50, a current ratio of 2.90 and a debt-to-equity ratio of 0.32. UFP Industries has a 52 week low of $48.82 and a 52 week high of $89.97.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Tuesday, August 31st. UFP Industries’s dividend payout ratio (DPR) is currently 15.00%.

UFP Industries Company Profile

UFP Industries, Inc manufactures and distributes wood and wood alternative products. It operates through the following segments: Retail, Industrial and Construction. The Retail segment comprises national home center retailers, retail-oriented regional lumberyards and contractor-oriented lumberyards. The Industrial segment manufacturers pallets, specialty crates, wooden boxes, and other containers used for packaging, shipping and material handling purposes.

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Earnings History and Estimates for UFP Industries (NASDAQ:UFPI)

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