Equities analysts predict that Westlake Chemical Co. (NYSE:WLK) will report $2.20 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Westlake Chemical’s earnings, with estimates ranging from $2.18 billion to $2.22 billion. Westlake Chemical posted sales of $2.24 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 1.8%. The company is scheduled to announce its next earnings report on Thursday, August 1st.

According to Zacks, analysts expect that Westlake Chemical will report full year sales of $8.57 billion for the current year, with estimates ranging from $8.40 billion to $8.70 billion. For the next financial year, analysts anticipate that the firm will report sales of $9.43 billion, with estimates ranging from $8.99 billion to $10.25 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Westlake Chemical.

Westlake Chemical (NYSE:WLK) last posted its earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.44). The firm 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%. Westlake Chemical’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.20 earnings per share.

Several equities analysts have commented on WLK shares. Alembic Global Advisors set a $105.00 target price on Westlake Chemical and gave the company a “buy” rating in a research report on Thursday, May 2nd. BMO Capital Markets set a $75.00 target price on Westlake Chemical and gave the company a “hold” rating in a research report on Friday, May 3rd. Cowen reiterated a “market perform” rating and issued a $68.00 target price (down from $78.00) on shares of Westlake Chemical in a research report on Monday, May 6th. Barclays reiterated a “buy” rating and issued a $72.00 target price on shares of Westlake Chemical in a research report on Sunday, May 5th. Finally, Nomura upgraded Westlake Chemical from a “reduce” rating to a “neutral” rating and increased their target price for the company from $70.00 to $79.00 in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $92.81.

In other news, Director H John Riley, Jr. sold 3,327 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $69.92, for a total transaction of $232,623.84. Following the completion of the transaction, the director now directly owns 22,652 shares in the company, valued at $1,583,827.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 72.60% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Westlake Chemical during the first quarter worth about $25,000. Penserra Capital Management LLC bought a new position in shares of Westlake Chemical during the fourth quarter worth about $37,000. Icon Wealth Partners LLC bought a new position in shares of Westlake Chemical during the first quarter worth about $37,000. TCG Advisors LP bought a new position in shares of Westlake Chemical during the first quarter worth about $39,000. Finally, First Mercantile Trust Co. bought a new position in shares of Westlake Chemical during the first quarter worth about $139,000. Institutional investors own 28.24% of the company’s stock.

Westlake Chemical stock opened at $63.76 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 2.14 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $8.23 billion, a price-to-earnings ratio of 8.16, a PEG ratio of 1.52 and a beta of 1.49. Westlake Chemical has a 12 month low of $57.20 and a 12 month high of $112.85.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. Westlake Chemical’s dividend payout ratio (DPR) is 12.80%.

Westlake Chemical Company Profile

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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