Westlake Chemical (WLK) Getting Somewhat Positive Media Coverage, Report Shows

Media headlines about Westlake Chemical (NYSE:WLK) have been trending somewhat positive on Friday, InfoTrie Sentiment reports. InfoTrie scores the sentiment of press coverage by analyzing more than six thousand news and blog sources. The firm ranks coverage of publicly-traded companies on a scale of negative five to five, with scores nearest to five being the most favorable. Westlake Chemical earned a news sentiment score of 1.17 on their scale. InfoTrie also assigned news headlines about the specialty chemicals company an news buzz score of 10 out of 10, indicating that recent press coverage is extremely likely to have an impact on the company’s share price in the next few days.

Here are some of the news stories that may have effected Westlake Chemical’s score:

A number of research firms recently weighed in on WLK. Royal Bank of Canada reaffirmed a “hold” rating and issued a $108.00 price objective on shares of Westlake Chemical in a research note on Monday, August 6th. MED reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Westlake Chemical in a research note on Thursday, August 2nd. BMO Capital Markets reaffirmed a “hold” rating and issued a $111.00 price objective on shares of Westlake Chemical in a research note on Friday, August 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Westlake Chemical from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, August 29th. Finally, Zacks Investment Research raised shares of Westlake Chemical from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $109.76.

Shares of Westlake Chemical stock opened at $71.82 on Friday. The stock has a market capitalization of $9.06 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 0.65 and a beta of 1.59. The company has a quick ratio of 1.59, a current ratio of 2.31 and a debt-to-equity ratio of 0.44. Westlake Chemical has a one year low of $66.91 and a one year high of $124.29.

Westlake Chemical (NYSE:WLK) last announced its earnings results on Tuesday, November 6th. The specialty chemicals company reported $2.35 EPS for the quarter, topping the Zacks’ consensus estimate of $2.24 by $0.11. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Westlake Chemical had a net margin of 19.36% and a return on equity of 19.75%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 earnings per share. On average, sell-side analysts anticipate that Westlake Chemical will post 8.6 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 11th. Shareholders of record on Tuesday, November 27th will be issued a $0.25 dividend. The ex-dividend date is Monday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. Westlake Chemical’s dividend payout ratio is presently 18.28%.

In other news, CEO Albert Chao sold 24,509 shares of the company’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $71.20, for a total transaction of $1,745,040.80. Following the transaction, the chief executive officer now owns 337,013 shares in the company, valued at $23,995,325.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 72.00% of the company’s stock.

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Westlake Chemical Company Profile

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products primarily in North America and Europe. It operates through two segments, Olefins and Vinyls. The Olefins segment offers polyethylene, styrene monomers, and various ethylene co-products, as well as sells propylene, crude butadiene, pyrolysis gasoline, and hydrogen products.

See Also: Return on Equity (ROE)

Insider Buying and Selling by Quarter for Westlake Chemical (NYSE:WLK)

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