Analysts expect Westlake Chemical Co. (NYSE:WLK) to post $1.05 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Westlake Chemical’s earnings, with the lowest EPS estimate coming in at $0.93 and the highest estimate coming in at $1.19. Westlake Chemical posted earnings of $2.35 per share during the same quarter last year, which suggests a negative year over year growth rate of 55.3%. The business is scheduled to report its next earnings results on Tuesday, November 5th.
According to Zacks, analysts expect that Westlake Chemical will report full year earnings of $3.69 per share for the current year, with EPS estimates ranging from $3.44 to $3.82. For the next financial year, analysts anticipate that the business will report earnings of $4.70 per share, with EPS estimates ranging from $4.20 to $5.30. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Westlake Chemical.
Westlake Chemical (NYSE:WLK) last issued its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. Westlake Chemical had a net margin of 7.39% and a return on equity of 11.05%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the company posted $2.12 EPS. The company’s revenue was down 4.1% on a year-over-year basis.
A number of research analysts have recently weighed in on WLK shares. Nomura dropped their price objective on shares of Westlake Chemical from $53.00 to $51.00 and set a “reduce” rating for the company in a research note on Wednesday, September 18th. UBS Group set a $54.00 price objective on shares of Westlake Chemical and gave the stock a “sell” rating in a research note on Tuesday, July 2nd. Bank of America cut shares of Westlake Chemical from a “buy” rating to an “underperform” rating in a research note on Friday, August 16th. ValuEngine raised shares of Westlake Chemical from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. Finally, Barclays dropped their price objective on shares of Westlake Chemical from $71.00 to $65.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $71.84.
Shares of WLK traded down $0.20 during mid-day trading on Wednesday, reaching $58.41. 175,712 shares of the company’s stock were exchanged, compared to its average volume of 839,352. The company has a quick ratio of 1.33, a current ratio of 2.07 and a debt-to-equity ratio of 0.47. The company has a 50-day simple moving average of $61.86 and a two-hundred day simple moving average of $65.37. Westlake Chemical has a 52-week low of $55.82 and a 52-week high of $83.69. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 2.50 and a beta of 1.61.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Tuesday, August 27th were given a dividend of $0.2625 per share. The ex-dividend date was Monday, August 26th. This represents a $1.05 dividend on an annualized basis and a yield of 1.80%. Westlake Chemical’s dividend payout ratio (DPR) is currently 13.44%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Huntington National Bank acquired a new stake in Westlake Chemical during the second quarter worth approximately $25,000. CSat Investment Advisory L.P. acquired a new stake in Westlake Chemical during the second quarter worth approximately $25,000. NumerixS Investment Technologies Inc acquired a new stake in Westlake Chemical during the second quarter worth approximately $28,000. TCG Advisors LP acquired a new stake in Westlake Chemical during the first quarter worth approximately $39,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Westlake Chemical in the 2nd quarter valued at $104,000. Hedge funds and other institutional investors own 30.65% of the company’s stock.
Westlake Chemical Company Profile
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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