Several brokerages have updated their recommendations and price targets on shares of Westlake Chemical Corporation (NYSE: WLK) in the last few weeks:

  • 9/28/2017 – Westlake Chemical Corporation had its “buy” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $93.00 price target on the stock.
  • 9/27/2017 – Westlake Chemical Corporation had its “positive” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $94.00 price target on the stock, up previously from $77.00.
  • 9/26/2017 – Westlake Chemical Corporation was upgraded by analysts at Instinet from a “neutral” rating to a “buy” rating.
  • 9/26/2017 – Westlake Chemical Corporation was upgraded by analysts at Nomura from a “neutral” rating to a “buy” rating. They now have a $98.00 price target on the stock.
  • 9/6/2017 – Westlake Chemical Corporation had its “buy” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $86.00 price target on the stock.
  • 9/6/2017 – Westlake Chemical Corporation had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada.
  • 8/22/2017 – Westlake Chemical Corporation had its price target raised by analysts at Cowen and Company from $70.00 to $78.00. They now have an “outperform” rating on the stock.
  • 8/9/2017 – Westlake Chemical Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Westlake Chemical Corporation is a vertically integrated international manufacturer and supplier of petrochemicals, polymers and fabricated products. The company’s range of products includes ethylene, polyethylene, styrene, vinyl intermediates, PVC, PVC Pipe, PVC windows, fence and decking components. “

Shares of Westlake Chemical Corporation (WLK) opened at 84.97 on Wednesday. The stock has a market capitalization of $10.97 billion, a P/E ratio of 24.28 and a beta of 1.63. Westlake Chemical Corporation has a 12-month low of $48.92 and a 12-month high of $85.18. The company has a 50-day moving average of $77.52 and a 200-day moving average of $68.48.

Westlake Chemical Corporation (NYSE:WLK) last issued its earnings results on Thursday, August 3rd. The specialty chemicals company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.02. Westlake Chemical Corporation had a net margin of 6.57% and a return on equity of 13.68%. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the business posted $0.85 EPS. The company’s revenue for the quarter was up 82.2% on a year-over-year basis. Equities analysts expect that Westlake Chemical Corporation will post $4.80 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Friday, September 1st were paid a $0.21 dividend. The ex-dividend date was Wednesday, August 30th. This is an increase from Westlake Chemical Corporation’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.99%. Westlake Chemical Corporation’s dividend payout ratio is 24.00%.

In related news, VP Mark Steven Bender sold 13,794 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $70.22, for a total transaction of $968,614.68. Following the completion of the sale, the vice president now directly owns 44,449 shares in the company, valued at $3,121,208.78. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 72.50% of the company’s stock.

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.

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