Equities analysts forecast that Westlake Chemical Co. (NYSE:WLK) will announce sales of $2.07 billion for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Westlake Chemical’s earnings, with estimates ranging from $2.00 billion to $2.12 billion. Westlake Chemical posted sales of $1.74 billion during the same quarter last year, which would suggest a positive year over year growth rate of 19%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, February 20th.
On average, analysts expect that Westlake Chemical will report full-year sales of $2.07 billion for the current fiscal year, with estimates ranging from $8.03 billion to $8.15 billion. For the next financial year, analysts anticipate that the business will report sales of $8.64 billion per share, with estimates ranging from $8.45 billion to $9.04 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Westlake Chemical.
Westlake Chemical (NYSE:WLK) last posted its quarterly earnings data on Tuesday, November 7th. The specialty chemicals company reported $1.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.26. Westlake Chemical had a return on equity of 15.59% and a net margin of 7.74%.
In related news, CFO Mark Steven Bender sold 6,500 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $97.83, for a total transaction of $635,895.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP George J. Mangieri sold 13,381 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $94.44, for a total value of $1,263,701.64. Following the sale, the senior vice president now owns 10,195 shares in the company, valued at $962,815.80. The disclosure for this sale can be found here. Insiders have sold a total of 293,122 shares of company stock worth $27,721,443 in the last ninety days. Insiders own 71.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. raised its stake in shares of Westlake Chemical by 6,376.2% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 1,360 shares of the specialty chemicals company’s stock valued at $113,000 after purchasing an additional 1,339 shares during the period. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Westlake Chemical during the 3rd quarter valued at $137,000. CAPROCK Group Inc. bought a new stake in shares of Westlake Chemical during the 4th quarter valued at $254,000. State of Alaska Department of Revenue bought a new stake in shares of Westlake Chemical during the 4th quarter valued at $244,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of Westlake Chemical during the 3rd quarter valued at $204,000. Institutional investors own 30.42% of the company’s stock.
Westlake Chemical (WLK) opened at $110.13 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.31 and a quick ratio of 1.59. Westlake Chemical has a 1 year low of $59.58 and a 1 year high of $114.34. The firm has a market capitalization of $14,218.55, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 1.32 and a beta of 1.72.
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About Westlake Chemical
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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