ValuEngine downgraded shares of Westlake Chemical (NYSE:WLK) from a sell rating to a strong sell rating in a report issued on Monday, February 4th.
Several other research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Westlake Chemical from a sell rating to a hold rating in a research note on Saturday, December 1st. SunTrust Banks restated a positive rating and issued a $81.00 target price on shares of Westlake Chemical in a research note on Thursday, November 15th. Alembic Global Advisors restated a buy rating on shares of Westlake Chemical in a research note on Monday, November 26th. BMO Capital Markets set a $94.00 target price on shares of Westlake Chemical and gave the company a hold rating in a research note on Thursday, November 8th. Finally, Nomura downgraded shares of Westlake Chemical from a neutral rating to a reduce rating and set a $72.00 price objective on the stock. in a research note on Wednesday, January 30th. Two equities 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’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $103.33.
WLK stock traded down $0.22 during trading on Monday, reaching $69.65. 1,190,670 shares of the company were exchanged, compared to its average volume of 970,892. Westlake Chemical has a 52-week low of $59.78 and a 52-week high of $124.29. The company has a market cap of $9.71 billion, a P/E ratio of 8.92, a P/E/G ratio of 0.81 and a beta of 1.51. The company has a current ratio of 2.40, a quick ratio of 1.59 and a debt-to-equity ratio of 0.44.
Westlake Chemical (NYSE:WLK) last announced its quarterly earnings data on Tuesday, February 19th. The specialty chemicals company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.70). Westlake Chemical had a net margin of 11.53% and a return on equity of 17.83%. The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the previous year, the company posted $1.62 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities research analysts expect that Westlake Chemical will post 7.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 13th. Investors of record on Wednesday, February 27th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Tuesday, February 26th. Westlake Chemical’s dividend payout ratio is currently 12.80%.
Hedge funds have recently bought and sold shares of the stock. Penserra Capital Management LLC acquired a new stake in shares of Westlake Chemical during the fourth quarter worth approximately $37,000. One Wealth Advisors LLC bought a new position in Westlake Chemical during the third quarter valued at approximately $160,000. Cerebellum GP LLC bought a new position in Westlake Chemical during the fourth quarter valued at approximately $163,000. Twin Tree Management LP bought a new position in Westlake Chemical during the third quarter valued at approximately $181,000. Finally, QS Investors LLC bought a new position in Westlake Chemical during the fourth quarter valued at approximately $192,000. Institutional investors and hedge funds own 28.57% of the company’s stock.
About Westlake Chemical
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.
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