Westlake Chemical Corporation (WLK) to Release Quarterly Earnings on Tuesday
Westlake Chemical Corporation (NYSE:WLK) will be issuing its quarterly earnings data before the market opens on Tuesday, November 7th. Analysts expect the company to announce earnings of $1.37 per share for the quarter.
Westlake Chemical Corporation (NYSE:WLK) last released its earnings results on Thursday, August 3rd. The specialty chemicals company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.02. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2 billion. Westlake Chemical Corporation had a net margin of 6.57% and a return on equity of 13.68%. Westlake Chemical Corporation’s revenue was up 82.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 EPS. On average, analysts expect Westlake Chemical Corporation to post $4.84 EPS for the current fiscal year and $5.88 EPS for the next fiscal year.
Shares of Westlake Chemical Corporation (WLK) opened at 85.63 on Tuesday. The firm’s 50-day moving average is $82.92 and its 200 day moving average is $71.06. Westlake Chemical Corporation has a 52-week low of $48.92 and a 52-week high of $87.22. The stock has a market cap of $11.05 billion, a P/E ratio of 24.47 and a beta of 1.63.
In other news, VP Mark Steven Bender sold 13,794 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $70.22, for a total transaction of $968,614.68. Following the transaction, the vice president now directly owns 44,449 shares in the company, valued at $3,121,208.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 72.50% of the company’s stock.
WLK has been the topic of several recent analyst reports. BidaskClub upgraded shares of Westlake Chemical Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Cowen and Company reiterated a “buy” rating and issued a $70.00 price target on shares of Westlake Chemical Corporation in a research note on Friday, July 14th. Royal Bank Of Canada reiterated a “buy” rating on shares of Westlake Chemical Corporation in a research note on Friday, August 4th. Zacks Investment Research lowered shares of Westlake Chemical Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $86.00 price target on shares of Westlake Chemical Corporation in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Westlake Chemical Corporation currently has a consensus rating of “Buy” and a consensus target price of $84.50.
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.
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