Wall Street analysts expect that Westlake Chemical Co. (NYSE:WLK) will report sales of $2.14 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Westlake Chemical’s earnings, with the highest sales estimate coming in at $2.24 billion and the lowest estimate coming in at $2.05 billion. Westlake Chemical reported sales of $2.26 billion in the same quarter last year, which suggests a negative year over year growth rate of 5.3%. The business is scheduled to report its next quarterly earnings results on Tuesday, November 5th.

According to Zacks, analysts expect that Westlake Chemical will report full year sales of $8.41 billion for the current year, with estimates ranging from $8.16 billion to $8.56 billion. For the next financial year, analysts expect that the business will post sales of $9.19 billion, with estimates ranging from $8.69 billion to $9.92 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Westlake Chemical.

Westlake Chemical (NYSE:WLK) last posted its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.08. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Westlake Chemical had a net margin of 7.39% and a return on equity of 11.05%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.12 EPS.

Several equities research analysts have weighed in on WLK shares. ValuEngine upgraded shares of Westlake Chemical from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st. Citigroup set a $79.00 price objective on shares of Westlake Chemical and gave the company a “buy” rating in a research report on Monday, July 15th. Macquarie set a $74.00 price target on shares of Westlake Chemical and gave the stock a “hold” rating in a research report on Tuesday, July 2nd. Barclays cut shares of Westlake Chemical from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $72.00 to $71.00 in a research report on Tuesday, July 2nd. Finally, BMO Capital Markets lowered their price target on shares of Westlake Chemical from $75.00 to $71.00 and set a “market perform” rating for the company in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $76.93.

A number of institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank bought a new position in Westlake Chemical in the second quarter valued at approximately $25,000. CSat Investment Advisory L.P. acquired a new position in Westlake Chemical during the second quarter worth $25,000. NumerixS Investment Technologies Inc acquired a new position in Westlake Chemical during the second quarter worth $28,000. Icon Wealth Partners LLC acquired a new position in Westlake Chemical during the first quarter worth $37,000. Finally, TCG Advisors LP acquired a new position in Westlake Chemical during the first quarter worth $39,000. 30.65% of the stock is currently owned by institutional investors and hedge funds.

WLK traded down $1.03 during midday trading on Wednesday, hitting $64.68. The company had a trading volume of 360,291 shares, compared to its average volume of 866,491. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.07. The company has a market capitalization of $8.45 billion, a PE ratio of 8.28, a P/E/G ratio of 2.71 and a beta of 1.62. Westlake Chemical has a twelve month low of $55.82 and a twelve month high of $87.65. The firm’s 50-day simple moving average is $61.63 and its 200-day simple moving average is $65.96.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Tuesday, August 27th were paid a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Monday, August 26th. Westlake Chemical’s payout ratio is 13.44%.

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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