Westlake Chemical Corporation (NYSE:WLK) – Analysts at SunTrust Banks boosted their Q3 2017 EPS estimates for shares of Westlake Chemical Corporation in a research report issued on Thursday. SunTrust Banks analyst J. Sheehan now forecasts that the specialty chemicals company will earn $1.34 per share for the quarter, up from their prior estimate of $1.28. SunTrust Banks also issued estimates for Westlake Chemical Corporation’s Q4 2017 earnings at $1.09 EPS.

Other analysts also recently issued reports about the company. Royal Bank Of Canada reiterated a “buy” rating on shares of Westlake Chemical Corporation in a research report on Friday. Cowen and Company reiterated a “buy” rating and set a $70.00 target price on shares of Westlake Chemical Corporation in a research report on Friday, July 14th. BidaskClub upgraded Westlake Chemical Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Zacks Investment Research upgraded Westlake Chemical Corporation from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Friday, May 5th. Finally, Citigroup Inc. decreased their target price on Westlake Chemical Corporation from $66.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, April 14th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $64.67.

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Shares of Westlake Chemical Corporation (NYSE WLK) opened at 69.97 on Monday. The stock has a market cap of $9.03 billion, a price-to-earnings ratio of 22.01 and a beta of 1.67. Westlake Chemical Corporation has a 52-week low of $45.77 and a 52-week high of $71.44. The firm has a 50-day moving average price of $67.12 and a 200 day moving average price of $64.58.

Westlake Chemical Corporation (NYSE:WLK) last released its quarterly earnings data on Thursday, August 3rd. The specialty chemicals company reported $1.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.02. Westlake Chemical Corporation had a return on equity of 13.94% and a net margin of 6.57%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. The business’s quarterly revenue was up 82.2% compared to the same quarter last year.

Several hedge funds have recently modified their holdings of the stock. UBS Asset Management Americas Inc. increased its stake in shares of Westlake Chemical Corporation by 25.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 13,479 shares of the specialty chemicals company’s stock valued at $756,000 after buying an additional 2,750 shares in the last quarter. Regentatlantic Capital LLC bought a new stake in shares of Westlake Chemical Corporation during the first quarter valued at about $206,000. Parametrica Management Ltd increased its stake in shares of Westlake Chemical Corporation by 24.9% in the first quarter. Parametrica Management Ltd now owns 4,936 shares of the specialty chemicals company’s stock valued at $326,000 after buying an additional 983 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Westlake Chemical Corporation during the first quarter valued at about $410,000. Finally, Farmers & Merchants Investments Inc. increased its stake in shares of Westlake Chemical Corporation by 43.8% in the first quarter. Farmers & Merchants Investments Inc. now owns 23,000 shares of the specialty chemicals company’s stock valued at $1,519,000 after buying an additional 7,000 shares in the last quarter. Institutional investors and hedge funds own 29.88% of the company’s stock.

In other news, VP George J. Mangieri sold 6,578 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $62.21, for a total value of $409,217.38. Following the sale, the vice president now directly owns 6,577 shares in the company, valued at $409,155.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 71.70% of the stock is owned by corporate insiders.

About Westlake Chemical Corporation

Westlake Chemical Corporation is a global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The Company’s products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.

Earnings History and Estimates for Westlake Chemical Corporation (NYSE:WLK)

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