Westlake (WLK) Set to Announce Earnings on Wednesday

Westlake (NYSE:WLK) is scheduled to be releasing its earnings data before the market opens on Wednesday, May 1st. Analysts expect Westlake to post earnings of $1.13 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Westlake (NYSE:WLK) last posted its quarterly earnings data on Tuesday, February 20th. The specialty chemicals company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.09). The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.85 billion. Westlake had a net margin of 3.82% and a return on equity of 9.70%. The company’s revenue was down 14.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.79 earnings per share. On average, analysts expect Westlake to post $7 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Westlake Stock Performance

Shares of Westlake stock opened at $150.95 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.37 and a quick ratio of 1.79. The stock’s 50-day moving average is $147.42 and its 200-day moving average is $137.54. The firm has a market cap of $19.35 billion, a price-to-earnings ratio of 40.80, a price-to-earnings-growth ratio of 1.49 and a beta of 1.30. Westlake has a one year low of $103.28 and a one year high of $162.64.

Westlake Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Wednesday, February 28th were paid a $0.50 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $2.00 annualized dividend and a dividend yield of 1.32%. Westlake’s dividend payout ratio is presently 54.05%.

Insider Transactions at Westlake

In related news, EVP Robert F. Buesinger sold 3,878 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $144.50, for a total value of $560,371.00. Following the sale, the executive vice president now owns 21,144 shares of the company’s stock, valued at $3,055,308. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Mark Steven Bender sold 4,804 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $141.02, for a total value of $677,460.08. Following the transaction, the chief financial officer now directly owns 45,306 shares of the company’s stock, valued at approximately $6,389,052.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert F. Buesinger sold 3,878 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $144.50, for a total value of $560,371.00. Following the sale, the executive vice president now directly owns 21,144 shares of the company’s stock, valued at approximately $3,055,308. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,658 shares of company stock worth $1,923,225. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Royal Bank of Canada lifted their price objective on shares of Westlake from $134.00 to $153.00 and gave the company a “sector perform” rating in a research report on Friday, April 19th. Barclays raised their price target on shares of Westlake from $142.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft upgraded Westlake from a “hold” rating to a “buy” rating and boosted their price target for the company from $138.00 to $174.00 in a research note on Thursday, April 18th. Wells Fargo & Company raised their price objective on Westlake from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. Finally, Citigroup raised their price target on Westlake from $140.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Westlake currently has a consensus rating of “Hold” and an average price target of $145.79.

Westlake Company Profile

Westlake Corporation engages in the manufacture and marketing of performance and essential materials, and housing and infrastructure products in the United States, Canada, Germany, China, Mexico, Brazil, France, Italy, Taiwan, and internationally. The company operates through two segments: Performance and Essential Materials and Housing and Infrastructure Products.