Westlake Chemical Co. (NYSE:WLK) – Analysts at KeyCorp increased their Q4 2020 EPS estimates for shares of Westlake Chemical in a research note issued on Thursday, June 25th. KeyCorp analyst A. Yefremov now expects that the specialty chemicals company will earn $0.32 per share for the quarter, up from their prior estimate of $0.26. KeyCorp currently has a “Sector Weight” rating on the stock.

Westlake Chemical (NYSE:WLK) last released its quarterly earnings data on Monday, May 4th. The specialty chemicals company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.08. Westlake Chemical had a net margin of 6.16% and a return on equity of 6.41%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Westlake Chemical’s revenue for the quarter was down 4.6% on a year-over-year basis.

Several other equities research analysts also recently weighed in on the stock. UBS Group increased their target price on shares of Westlake Chemical from $26.00 to $28.00 and gave the stock a “sell” rating in a research note on Wednesday, May 6th. Cfra upgraded shares of Westlake Chemical from a “sell” rating to a “hold” rating and raised their price objective for the company from $37.00 to $56.00 in a research report on Thursday, June 4th. Scotiabank began coverage on shares of Westlake Chemical in a research report on Wednesday, March 18th. They issued a “sector perform” rating and a $48.00 price objective for the company. Morgan Stanley reduced their price objective on shares of Westlake Chemical from $69.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 11th. Finally, ValuEngine downgraded shares of Westlake Chemical from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $54.17.

Shares of WLK opened at $52.68 on Monday. Westlake Chemical has a fifty-two week low of $28.99 and a fifty-two week high of $75.65. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 18.27 and a beta of 1.69. The firm has a 50-day simple moving average of $49.35 and a 200-day simple moving average of $53.41. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.77 and a current ratio of 3.68.

Several institutional investors and hedge funds have recently modified their holdings of WLK. Bourgeon Capital Management LLC purchased a new position in shares of Westlake Chemical during the 1st quarter worth approximately $34,000. Advisor Group Holdings Inc. purchased a new position in shares of Westlake Chemical during the 1st quarter worth approximately $36,000. Smithfield Trust Co. increased its stake in shares of Westlake Chemical by 87.5% during the 1st quarter. Smithfield Trust Co. now owns 1,594 shares of the specialty chemicals company’s stock worth $60,000 after purchasing an additional 744 shares in the last quarter. Dupont Capital Management Corp purchased a new position in shares of Westlake Chemical during the 1st quarter worth approximately $83,000. Finally, US Bancorp DE boosted its position in Westlake Chemical by 48.3% during the first quarter. US Bancorp DE now owns 2,189 shares of the specialty chemicals company’s stock worth $83,000 after acquiring an additional 713 shares during the last quarter. 27.66% of the stock is owned by institutional investors and hedge funds.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 26th were paid a dividend of $0.2625 per share. The ex-dividend date was Friday, May 22nd. This represents a $1.05 dividend on an annualized basis and a dividend yield of 1.99%. Westlake Chemical’s dividend payout ratio (DPR) is 32.21%.

About Westlake Chemical

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products worldwide. 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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Earnings History and Estimates for Westlake Chemical (NYSE:WLK)

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