Westlake Chemical Co. (NYSE:WLK) – Research analysts at SunTrust Banks increased their Q1 2019 earnings per share estimates for shares of Westlake Chemical in a report issued on Monday, April 15th. SunTrust Banks analyst J. Sheehan now forecasts that the specialty chemicals company will earn $1.55 per share for the quarter, up from their prior forecast of $1.53. SunTrust Banks also issued estimates for Westlake Chemical’s FY2020 earnings at $8.90 EPS.
Several other analysts have also recently commented on WLK. Zacks Investment Research cut shares of Westlake Chemical from a “hold” rating to a “sell” rating in a report on Saturday, January 12th. Susquehanna Bancshares reiterated a “neutral” rating and issued a $75.00 target price (down from $88.00) on shares of Westlake Chemical in a research note on Tuesday, February 26th. ValuEngine cut shares of Westlake Chemical from a “sell” rating to a “strong sell” rating in a research note on Monday, February 4th. Nomura upgraded shares of Westlake Chemical from a “reduce” rating to a “neutral” rating and lifted their target price for the company from $70.00 to $79.00 in a research note on Monday. Finally, Cascend Securities assumed coverage on shares of Westlake Chemical in a research note on Friday, April 5th. They issued a “buy” rating and a $94.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Westlake Chemical has a consensus rating of “Hold” and an average target price of $102.06.
WLK stock opened at $76.91 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 2.40 and a debt-to-equity ratio of 0.44. The company has a market cap of $9.97 billion, a P/E ratio of 9.85, a P/E/G ratio of 0.91 and a beta of 1.44. Westlake Chemical has a 52 week low of $59.78 and a 52 week high of $124.29.
Westlake Chemical (NYSE:WLK) last posted its quarterly earnings results on Tuesday, February 19th. The specialty chemicals company reported $1.02 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.70). The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.10 billion. Westlake Chemical had a return on equity of 17.83% and a net margin of 11.53%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 earnings per share.
In other news, Director H John Riley, Jr. sold 3,327 shares of Westlake Chemical stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $69.92, for a total value of $232,623.84. Following the transaction, the director now owns 22,652 shares of the company’s stock, valued at $1,583,827.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 72.00% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in WLK. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Westlake Chemical in the first quarter valued at approximately $25,000. Penserra Capital Management LLC bought a new position in Westlake Chemical during the fourth quarter worth $37,000. Cerebellum GP LLC bought a new position in Westlake Chemical during the fourth quarter worth $163,000. QS Investors LLC bought a new position in Westlake Chemical during the fourth quarter worth $192,000. Finally, Advisor Group Inc. increased its position in Westlake Chemical by 227.0% during the fourth quarter. Advisor Group Inc. now owns 3,165 shares of the specialty chemicals company’s stock worth $210,000 after acquiring an additional 2,197 shares during the period. 28.00% of the stock is currently owned by institutional investors.
About Westlake Chemical
Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products worldwide. 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.
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