Brokerages Expect Westlake Chemical Co. (WLK) Will Post Earnings of $1.72 Per Share

Share on StockTwits

Brokerages forecast that Westlake Chemical Co. (NYSE:WLK) will announce earnings of $1.72 per share for the current quarter, according to Zacks. Three analysts have issued estimates for Westlake Chemical’s earnings. The lowest EPS estimate is $1.65 and the highest is $1.86. Westlake Chemical posted earnings per share of $1.62 during the same quarter last year, which suggests a positive year over year growth rate of 6.2%. The business is expected to report its next quarterly earnings report on Tuesday, February 19th.

According to Zacks, analysts expect that Westlake Chemical will report full year earnings of $8.49 per share for the current financial year, with EPS estimates ranging from $8.47 to $8.51. For the next year, analysts expect that the company will post earnings of $8.12 per share, with EPS estimates ranging from $7.40 to $8.96. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Westlake Chemical.

Westlake Chemical (NYSE:WLK) last issued its earnings results on Tuesday, November 6th. The specialty chemicals company reported $2.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.24 by $0.11. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Westlake Chemical had a return on equity of 19.75% and a net margin of 19.36%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.61 earnings per share.

WLK has been the topic of a number of research analyst reports. Nomura lowered their price target on Westlake Chemical from $100.00 to $92.00 and set a “neutral” rating on the stock in a report on Monday, October 15th. ValuEngine lowered Westlake Chemical from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 3rd. Cowen reissued a “market perform” rating and set a $75.00 price target (down from $100.00) on shares of Westlake Chemical in a report on Tuesday, December 11th. Bank of America raised Westlake Chemical from an “underperform” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Tuesday, January 8th. Finally, Barclays initiated coverage on Westlake Chemical in a report on Monday, October 8th. They set an “overweight” rating and a $100.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $104.94.

In related news, CEO Albert Chao sold 24,509 shares of the stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $71.20, for a total value of $1,745,040.80. Following the completion of the transaction, the chief executive officer now owns 337,013 shares in the company, valued at approximately $23,995,325.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 72.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of Westlake Chemical by 15.0% in the 3rd quarter. FMR LLC now owns 8,481,032 shares of the specialty chemicals company’s stock valued at $704,859,000 after purchasing an additional 1,108,088 shares during the period. Vanguard Group Inc. boosted its position in Westlake Chemical by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 5,269,764 shares of the specialty chemicals company’s stock worth $437,970,000 after acquiring an additional 112,200 shares during the period. Vanguard Group Inc boosted its position in Westlake Chemical by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 5,269,764 shares of the specialty chemicals company’s stock worth $437,970,000 after acquiring an additional 112,200 shares during the period. BlackRock Inc. boosted its position in Westlake Chemical by 7.6% during the 3rd quarter. BlackRock Inc. now owns 2,081,307 shares of the specialty chemicals company’s stock worth $172,977,000 after acquiring an additional 147,877 shares during the period. Finally, AQR Capital Management LLC boosted its position in Westlake Chemical by 20.0% during the 3rd quarter. AQR Capital Management LLC now owns 1,853,189 shares of the specialty chemicals company’s stock worth $154,018,000 after acquiring an additional 308,887 shares during the period. Institutional investors and hedge funds own 29.43% of the company’s stock.

Shares of WLK traded down $3.22 during trading hours on Thursday, reaching $73.81. 31,362 shares of the company’s stock traded hands, compared to its average volume of 838,878. The firm has a market capitalization of $9.91 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 0.69 and a beta of 1.47. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.59 and a current ratio of 2.31. Westlake Chemical has a twelve month low of $59.78 and a twelve month high of $124.29.

About Westlake Chemical

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products primarily in North America and Europe. It operates through two segments, Olefins and Vinyls. The Olefins segment offers polyethylene, styrene monomers, and various ethylene co-products, as well as sells propylene, crude butadiene, pyrolysis gasoline, and hydrogen products.

See Also: What Is An Exchange-Traded Fund (ETF)?

Get a free copy of the Zacks research report on Westlake Chemical (WLK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Westlake Chemical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westlake Chemical and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Dorado Market Capitalization Achieves $58,502.00
Dorado Market Capitalization Achieves $58,502.00
Superior Coin  Market Capitalization Hits $0.00
Superior Coin Market Capitalization Hits $0.00
Rock Achieves Market Capitalization of $6.51 Million
Rock Achieves Market Capitalization of $6.51 Million
Babcock & Wilcox Enterprises  Shares Gap Down to $0.37
Babcock & Wilcox Enterprises Shares Gap Down to $0.37
VF Corp  Expected to Post Quarterly Sales of $3.20 Billion
VF Corp Expected to Post Quarterly Sales of $3.20 Billion
Zacks: United Fire Group, Inc.  Receives Average Recommendation of “Hold” from Analysts
Zacks: United Fire Group, Inc. Receives Average Recommendation of “Hold” from Analysts


© 2006-2019 Ticker Report