Westlake Chemical (WLK) Set to Announce Earnings on Tuesday

Westlake Chemical (NYSE:WLK) will be issuing its quarterly earnings data before the market opens on Tuesday, November 6th. Analysts expect the company to announce earnings of $2.24 per share for the quarter.

Westlake Chemical (NYSE:WLK) last announced its earnings results on Thursday, August 2nd. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.52 by ($0.30). Westlake Chemical had a return on equity of 19.44% and a net margin of 18.55%. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the prior year, the company posted $1.21 EPS. The firm’s revenue was up 12.9% on a year-over-year basis. On average, analysts expect Westlake Chemical to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Shares of NYSE:WLK opened at $74.24 on Friday. Westlake Chemical has a 52-week low of $68.40 and a 52-week high of $124.29. The company has a market capitalization of $9.63 billion, a PE ratio of 13.57, a PEG ratio of 0.66 and a beta of 1.59. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.27 and a quick ratio of 1.51.

WLK has been the subject of several research reports. MED reissued a “buy” rating and issued a $135.00 target price on shares of Westlake Chemical in a research report on Tuesday, September 4th. Deutsche Bank decreased their target price on Westlake Chemical from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, September 26th. Cowen lowered Westlake Chemical from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $120.00 to $100.00 in a research report on Friday, September 7th. Zacks Investment Research lowered Westlake Chemical from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Finally, JPMorgan Chase & Co. decreased their target price on Westlake Chemical from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, August 29th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $111.00.

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.

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Earnings History for Westlake Chemical (NYSE:WLK)

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