Westlake Chemical (WLK) to Release Earnings on Tuesday

Westlake Chemical (NYSE:WLK) will post its quarterly earnings results before the market opens on Tuesday, February 20th. Analysts expect Westlake Chemical to post earnings of $1.62 per share for the quarter.

Shares of Westlake Chemical (WLK) opened at $106.23 on Tuesday. The company has a market cap of $13,710.00, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 1.18 and a beta of 1.62. The company has a quick ratio of 1.59, a current ratio of 2.31 and a debt-to-equity ratio of 0.74. Westlake Chemical has a 12 month low of $59.58 and a 12 month high of $115.19.

Several analysts have commented on the stock. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $122.00 target price (up from $112.00) on shares of Westlake Chemical in a research note on Wednesday, January 17th. Bank of America cut shares of Westlake Chemical from a “neutral” rating to an “underperform” rating and set a $105.00 target price for the company. in a research note on Tuesday, January 16th. They noted that the move was a valuation call. Morgan Stanley assumed coverage on shares of Westlake Chemical in a research note on Tuesday, January 9th. They issued an “equal weight” rating and a $120.00 target price for the company. Vertical Research cut shares of Westlake Chemical from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Alembic Global Advisors reaffirmed a “buy” rating and issued a $110.00 target price on shares of Westlake Chemical in a research note on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $104.00.

In related news, EVP Robert F. Buesinger sold 2,674 shares of Westlake Chemical stock in a transaction on Friday, December 1st. The shares were sold at an average price of $98.50, for a total transaction of $263,389.00. Following the transaction, the executive vice president now owns 6,635 shares in the company, valued at approximately $653,547.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Albert Chao sold 25,000 shares of Westlake Chemical stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $94.34, for a total transaction of $2,358,500.00. Following the transaction, the chief executive officer now owns 299,018 shares in the company, valued at approximately $28,209,358.12. The disclosure for this sale can be found here. Insiders have sold a total of 232,858 shares of company stock valued at $22,057,564 over the last three months. Corporate insiders own 72.50% of the company’s stock.

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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.

Earnings History for Westlake Chemical (NYSE:WLK)

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