A number of other research firms also recently weighed in on WLK. Alembic Global Advisors set a $105.00 target price on shares of Westlake Chemical and gave the stock a buy rating in a report on Thursday, May 2nd. BMO Capital Markets set a $75.00 target price on shares of Westlake Chemical and gave the stock a hold rating in a report on Friday, May 3rd. Cowen restated a market perform rating and issued a $68.00 target price (down from $78.00) on shares of Westlake Chemical in a report on Monday, May 6th. Barclays restated a buy rating and issued a $72.00 target price on shares of Westlake Chemical in a report on Sunday, May 5th. Finally, Nomura upgraded shares of Westlake Chemical from a reduce rating to a neutral rating and boosted their target price for the stock from $70.00 to $79.00 in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Westlake Chemical currently has a consensus rating of Hold and a consensus price target of $89.24.
Shares of NYSE WLK opened at $67.51 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.31 and a current ratio of 2.14. The company has a market cap of $8.49 billion, a P/E ratio of 8.64, a P/E/G ratio of 1.56 and a beta of 1.49. The company has a fifty day moving average of $62.34. Westlake Chemical has a 52-week low of $57.20 and a 52-week high of $112.85.
Westlake Chemical (NYSE:WLK) last announced its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.44). The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.09 billion. Westlake Chemical had a net margin of 9.18% and a return on equity of 14.57%. The business’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.20 earnings per share. As a group, equities analysts anticipate that Westlake Chemical will post 5.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Wednesday, May 29th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 28th. This represents a $1.00 annualized dividend and a yield of 1.48%. Westlake Chemical’s payout ratio is 12.80%.
A number of large investors have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. grew its holdings in Westlake Chemical by 3.6% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 5,698 shares of the specialty chemicals company’s stock valued at $387,000 after purchasing an additional 198 shares during the last quarter. California State Teachers Retirement System grew its holdings in Westlake Chemical by 0.4% during the 1st quarter. California State Teachers Retirement System now owns 58,924 shares of the specialty chemicals company’s stock valued at $3,999,000 after purchasing an additional 225 shares during the last quarter. FIL Ltd grew its holdings in Westlake Chemical by 0.8% during the 1st quarter. FIL Ltd now owns 38,720 shares of the specialty chemicals company’s stock valued at $2,628,000 after purchasing an additional 321 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Westlake Chemical during the 1st quarter valued at about $25,000. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in Westlake Chemical by 12.6% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 4,206 shares of the specialty chemicals company’s stock valued at $278,000 after purchasing an additional 472 shares during the last quarter. Institutional investors own 28.21% of the company’s stock.
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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