Equities Analysts Offer Predictions for Westlake Chemical Co.’s Q1 2019 Earnings (WLK)

Westlake Chemical Co. (NYSE:WLK) – Equities research analysts at SunTrust Banks issued their Q1 2019 earnings per share estimates for shares of Westlake Chemical in a research report issued to clients and investors on Tuesday, February 19th. SunTrust Banks analyst J. Sheehan forecasts that the specialty chemicals company will earn $1.44 per share for the quarter. SunTrust Banks has a “Positive” rating and a $81.00 price objective on the stock. SunTrust Banks also issued estimates for Westlake Chemical’s Q2 2019 earnings at $2.03 EPS, Q3 2019 earnings at $2.16 EPS, Q4 2019 earnings at $1.78 EPS and FY2020 earnings at $8.64 EPS.

Westlake Chemical (NYSE:WLK) last released its quarterly earnings results on Tuesday, February 19th. The specialty chemicals company reported $1.02 EPS for the quarter, missing the Zacks’ consensus estimate of $1.72 by ($0.70). The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.10 billion. Westlake Chemical had a return on equity of 17.99% and a net margin of 11.53%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the company earned $1.62 earnings per share.

WLK has been the topic of a number of other reports. Zacks Investment Research upgraded Westlake Chemical from a “sell” rating to a “hold” rating in a research report on Saturday, December 1st. Cowen reiterated a “market perform” rating and issued a $82.00 price objective on shares of Westlake Chemical in a research report on Wednesday, February 6th. BMO Capital Markets set a $94.00 price objective on Westlake Chemical and gave the company a “hold” rating in a research report on Thursday, November 8th. Alembic Global Advisors set a $135.00 price objective on Westlake Chemical and gave the company a “buy” rating in a research report on Tuesday, November 6th. Finally, ValuEngine lowered Westlake Chemical from a “sell” rating to a “strong sell” rating in a research report on Monday, February 4th. Two research 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’s stock. Westlake Chemical presently has an average rating of “Hold” and a consensus price target of $105.64.

Shares of WLK opened at $75.57 on Thursday. The firm has a market capitalization of $10.32 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 0.73 and a beta of 1.51. 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 52 week low of $59.78 and a 52 week high of $124.29.

Several hedge funds have recently bought and sold shares of the company. FMR LLC lifted its stake 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. lifted its stake in shares of Westlake Chemical by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,269,764 shares of the specialty chemicals company’s stock valued at $437,970,000 after purchasing an additional 112,200 shares during the period. Vanguard Group Inc lifted its stake in shares of Westlake Chemical by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 5,269,764 shares of the specialty chemicals company’s stock valued at $437,970,000 after purchasing an additional 112,200 shares during the period. BlackRock Inc. lifted its stake in shares of Westlake Chemical by 7.6% in the 3rd quarter. BlackRock Inc. now owns 2,081,307 shares of the specialty chemicals company’s stock valued at $172,977,000 after purchasing an additional 147,877 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Westlake Chemical by 20.0% in the 3rd quarter. AQR Capital Management LLC now owns 1,853,189 shares of the specialty chemicals company’s stock valued at $154,018,000 after purchasing an additional 308,887 shares during the period. 28.57% of the stock is currently owned by institutional investors.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 13th. Stockholders of record on Wednesday, February 27th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Tuesday, February 26th. Westlake Chemical’s dividend payout ratio (DPR) is currently 12.80%.

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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