Westlake Chemical Co. Declares Quarterly Dividend of $0.17 (WLK)
Westlake Chemical (NYSE:WLK) declared a quarterly dividend on Monday, August 25th, American Banking and Market News reports. Investors of record on Friday, September 5th will be given a dividend of 0.165 per share on Friday, September 19th. This represents a $0.66 dividend on an annualized basis and a yield of 0.71%.
Several analysts have recently commented on the stock. Analysts at SunTrust upgraded shares of Westlake Chemical from a “reduce” rating to a “neutral” rating in a research note on Monday, August 18th. On a related note, analysts at Cowen and Company raised their price target on shares of Westlake Chemical from $75.00 to $100.00 in a research note on Friday, August 8th. They now have an “outperform” rating on the stock. Finally, analysts at Zacks upgraded shares of Westlake Chemical from a “neutral” rating to an “outperform” rating in a research note on Wednesday, August 6th. They now have a $92.20 price target on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Westlake Chemical has an average rating of “Buy” and an average target price of $90.44.
Westlake Chemical (NYSE:WLK) opened at 93.56 on Monday. Westlake Chemical has a one year low of $50.085 and a one year high of $94.01. The stock has a 50-day moving average of $88.20 and a 200-day moving average of $75.81. The company has a market cap of $12.489 billion and a P/E ratio of 18.89.
Westlake Chemical (NYSE:WLK) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by $0.18. The company had revenue of $998.60 million for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the company posted $2.17 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts predict that Westlake Chemical will post $5.49 earnings per share 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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