UFP Industries (NASDAQ:UFPI) Announces Quarterly Earnings Results

UFP Industries (NASDAQ:UFPI) posted its quarterly earnings data on Monday. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.25), Briefing.com reports. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the firm posted $2.10 EPS. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year.

UFP Industries Stock Performance

UFPI opened at $123.04 on Wednesday. The business’s 50-day simple moving average is $126.83 and its 200 day simple moving average is $120.53. UFP Industries has a 52-week low of $90.62 and a 52-week high of $139.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34. The firm has a market capitalization of $7.60 billion, a PE ratio of 15.30 and a beta of 1.39.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Monday, December 2nd. UFP Industries’s payout ratio is 16.42%.

Wall Street Analysts Forecast Growth

UFPI has been the topic of several analyst reports. Stifel Nicolaus upped their price objective on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Benchmark raised their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets boosted their target price on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Finally, Wedbush raised UFP Industries from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $120.00 to $155.00 in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, UFP Industries has an average rating of “Moderate Buy” and an average target price of $139.60.

UFP Industries Company Profile

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.