Westlake Chemical (WLK) Set to Announce Earnings on Tuesday

Westlake Chemical (NYSE:WLK) is scheduled to release its earnings data before the market opens on Tuesday, February 20th. Analysts expect Westlake Chemical to post earnings of $1.62 per share for the quarter.

Shares of Westlake Chemical (NYSE:WLK) opened at $106.76 on Monday. The firm has a market capitalization of $13,780.00, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 1.23 and a beta of 1.62. The company has a quick ratio of 1.59, a current ratio of 2.31 and a debt-to-equity ratio of 0.74. Westlake Chemical has a 1-year low of $59.58 and a 1-year high of $115.19.

In other Westlake Chemical news, EVP Robert F. Buesinger sold 2,674 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $98.50, for a total value of $263,389.00. Following the transaction, the executive vice president now owns 6,635 shares of the company’s stock, valued at $653,547.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Albert Chao sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $94.34, for a total value of $2,358,500.00. Following the completion of the transaction, the chief executive officer now directly owns 299,018 shares in the company, valued at approximately $28,209,358.12. The disclosure for this sale can be found here. In the last three months, insiders sold 227,644 shares of company stock worth $21,568,386. Insiders own 71.70% of the company’s stock.

A number of brokerages have weighed in on WLK. Johnson Rice began coverage on Westlake Chemical in a report on Monday, November 6th. They issued an “accumulate” rating and a $100.00 target price for the company. Alembic Global Advisors reiterated a “buy” rating on shares of Westlake Chemical in a report on Friday, November 24th. ValuEngine downgraded Westlake Chemical from a “buy” rating to a “hold” rating in a report on Tuesday, November 21st. Morgan Stanley started coverage on Westlake Chemical in a research note on Tuesday, January 9th. They issued an “equal weight” rating and a $120.00 price objective for the company. Finally, UBS Group reissued a “sell” rating and issued a $61.00 price objective on shares of Westlake Chemical in a research note on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $104.00.

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About Westlake Chemical

Westlake Chemical Corporation is a global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The Company’s products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.

Earnings History for Westlake Chemical (NYSE:WLK)

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Westlake Chemical (WLK) Set to Announce Earnings on Tuesday

Westlake Chemical (NYSE:WLK) will be announcing its earnings results before the market opens on Tuesday, February 20th. Analysts expect the company to announce earnings of $1.62 per share for the quarter.

Shares of Westlake Chemical (WLK) opened at $106.76 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.59 and a current ratio of 2.31. Westlake Chemical has a one year low of $59.58 and a one year high of $115.19. The stock has a market capitalization of $13,780.00, a price-to-earnings ratio of 23.16, a P/E/G ratio of 1.23 and a beta of 1.62.

In related news, EVP Robert F. Buesinger sold 2,674 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $98.50, for a total transaction of $263,389.00. Following the completion of the transaction, the executive vice president now directly owns 6,635 shares in the company, valued at $653,547.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Albert Chao sold 25,000 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $93.96, for a total value of $2,349,000.00. Following the completion of the transaction, the chief executive officer now owns 299,018 shares of the company’s stock, valued at $28,095,731.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 227,644 shares of company stock valued at $21,568,386. 71.70% of the stock is owned by company insiders.

A number of analysts recently issued reports on the company. ValuEngine upgraded Westlake Chemical from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. Alembic Global Advisors reiterated a “buy” rating on shares of Westlake Chemical in a research note on Friday, November 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $114.00 price objective (up from $103.00) on shares of Westlake Chemical in a research note on Thursday, November 9th. SunTrust Banks reiterated a “buy” rating and set a $102.00 price objective (up from $93.00) on shares of Westlake Chemical in a research note on Friday, November 17th. Finally, Bank of America lowered Westlake Chemical from a “neutral” rating to an “underperform” rating and set a $105.00 price objective on the stock. in a research note on Tuesday, January 16th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Westlake Chemical has a consensus rating of “Buy” and a consensus price target of $104.00.

TRADEMARK VIOLATION WARNING: This news story was originally posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.thelincolnianonline.com/2018/02/19/westlake-chemical-wlk-set-to-announce-earnings-on-tuesday.html.

About Westlake Chemical

Westlake Chemical Corporation is a global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The Company’s products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.

Earnings History for Westlake Chemical (NYSE:WLK)

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.

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