Westlake Chemical Corp. Reaches New 12-Month High at $108.41 (WLK)
Westlake Chemical Corp. (NYSE:WLK)’s share price reached a new 52-week high on Tuesday, American Banking News reports. The company traded as high as $108.41 and last traded at $107.02, with a volume of 276,509 shares traded. The stock had previously closed at $104.66.
A number of research firms have recently commented on WLK. Analysts at Wells Fargo & Co. upgraded shares of Westlake Chemical Corp. (NYSE:WLK) from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday. Separately, analysts at JPMorgan Chase & Co. downgraded shares of Westlake Chemical Corp. (NYSE:WLK) from an “overweight” rating to a “neutral” rating in a research note to investors on Wednesday, September 11th. They now have a $114.00 price target on the stock. Finally, analysts at Susquehanna raised their price target on shares of Westlake Chemical Corp. (NYSE:WLK) from $92.00 to $118.00 in a research note to investors on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Westlake Chemical Corp. presently has a consensus rating of “Hold” and an average target price of $97.50.
Westlake Chemical Corp. has a 52-week low of $69.01 and a 52-week high of $107.79. The stock has a 50-day moving average of $103.1 and a 200-day moving average of $95.87. The company has a market cap of $7.189 billion and a P/E ratio of 15.55.
Westlake Chemical Corp. (NYSE:WLK) last released its earnings data on Tuesday, July 30th. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.27. The company had revenue of $939.05 million for the quarter, compared to the consensus estimate of $948.00 million. During the same quarter in the previous year, the company posted $1.72 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts expect that Westlake Chemical Corp. will post $8.07 EPS for the current fiscal year.
Westlake Chemical Corporation is a vertically integrated manufacturer and marketer of basic chemicals, vinyls, polymers and fabricated building products.
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