Analysts expect Westlake Chemical Corporation (NYSE:WLK) to post $1.51 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Westlake Chemical Corporation’s earnings, with the highest EPS estimate coming in at $1.71 and the lowest estimate coming in at $1.18. Westlake Chemical Corporation posted earnings of $0.87 per share during the same quarter last year, which suggests a positive year over year growth rate of 73.6%. The business is scheduled to issue its next quarterly earnings results on Tuesday, February 20th.
On average, analysts expect that Westlake Chemical Corporation will report full year earnings of $4.84 per share for the current year, with EPS estimates ranging from $4.55 to $5.23. For the next fiscal year, analysts expect that the business will post earnings of $6.02 per share, with EPS estimates ranging from $5.25 to $7.48. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Westlake Chemical Corporation.
WLK has been the subject of several recent analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $114.00 price target (up from $103.00) on shares of Westlake Chemical Corporation in a report on Thursday, November 9th. Nomura raised Westlake Chemical Corporation from a “neutral” rating to a “buy” rating and set a $98.00 price target for the company in a report on Tuesday, September 26th. UBS AG reissued a “sell” rating and issued a $61.00 price target on shares of Westlake Chemical Corporation in a report on Wednesday, November 8th. Zacks Investment Research cut Westlake Chemical Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, Cowen and Company raised their price target on Westlake Chemical Corporation from $78.00 to $92.00 and gave the company an “outperform” rating in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $92.73.
COPYRIGHT VIOLATION NOTICE: This story was first posted by Stock Observer and is the property of of Stock Observer. If you are accessing this story on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://www.thestockobserver.com/2017/11/14/brokerages-anticipate-westlake-chemical-corporation-wlk-will-post-earnings-of-1-51-per-share.html.
Westlake Chemical Corporation (NYSE WLK) traded up $0.96 on Friday, hitting $93.95. The stock had a trading volume of 1,028,500 shares, compared to its average volume of 852,376. The company has a quick ratio of 1.59, a current ratio of 2.31 and a debt-to-equity ratio of 0.74. The firm has a market cap of $12,005.70, a PE ratio of 18.64, a P/E/G ratio of 2.29 and a beta of 1.67. Westlake Chemical Corporation has a 1-year low of $52.56 and a 1-year high of $96.14.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Westlake Chemical Corporation by 1.8% during the second quarter. Vanguard Group Inc. now owns 4,277,676 shares of the specialty chemicals company’s stock worth $283,225,000 after purchasing an additional 75,728 shares during the last quarter. FMR LLC raised its holdings in Westlake Chemical Corporation by 15.0% during the second quarter. FMR LLC now owns 2,808,967 shares of the specialty chemicals company’s stock worth $185,981,000 after purchasing an additional 366,537 shares during the last quarter. BlackRock Inc. raised its holdings in Westlake Chemical Corporation by 14,246.4% during the first quarter. BlackRock Inc. now owns 1,699,615 shares of the specialty chemicals company’s stock worth $112,260,000 after purchasing an additional 1,687,768 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in Westlake Chemical Corporation by 14.8% during the second quarter. TIAA CREF Investment Management LLC now owns 1,570,608 shares of the specialty chemicals company’s stock worth $103,990,000 after purchasing an additional 202,453 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in Westlake Chemical Corporation during the second quarter worth $90,442,000. 32.01% of the stock is owned by hedge funds and other institutional investors.
Westlake Chemical Corporation Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Westlake Chemical Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westlake Chemical Corporation and related companies with MarketBeat.com's FREE daily email newsletter.