Westlake (WLK) Scheduled to Post Quarterly Earnings on Wednesday

Westlake (NYSE:WLK) will announce its earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $1.13 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Westlake (NYSE:WLK) last posted its earnings results 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). Westlake had a return on equity of 9.70% and a net margin of 3.82%. The business had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the previous year, the firm earned $1.79 earnings per share. Westlake’s quarterly revenue was down 14.3% compared to the same quarter last year. On average, analysts expect Westlake to post $7 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Westlake Price Performance

Westlake stock opened at $149.27 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 2.37 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $146.73 and a 200 day simple moving average of $136.65. Westlake has a 52 week low of $103.28 and a 52 week high of $162.64. The stock has a market cap of $19.14 billion, a price-to-earnings ratio of 40.34, a PEG ratio of 1.45 and a beta of 1.30.

Westlake Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Wednesday, February 28th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.34%. The ex-dividend date was Tuesday, February 27th. Westlake’s dividend payout ratio (DPR) is currently 54.05%.

Insider Activity at Westlake

In related news, CFO Mark Steven Bender sold 4,854 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $137.57, for a total transaction of $667,764.78. Following the transaction, the chief financial officer now owns 50,110 shares in the company, valued at approximately $6,893,632.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Westlake news, EVP Robert F. Buesinger sold 3,878 shares of the company’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 transaction of $560,371.00. Following the transaction, the executive vice president now owns 21,144 shares in the company, valued at approximately $3,055,308. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Steven Bender sold 4,854 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $137.57, for a total value of $667,764.78. Following the transaction, the chief financial officer now owns 50,110 shares in the company, valued at approximately $6,893,632.70. The disclosure for this sale can be found here. Insiders have sold a total of 13,658 shares of company stock worth $1,923,225 in the last 90 days. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

WLK has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised Westlake from a “hold” rating to a “buy” rating and lifted their price target for the stock from $138.00 to $174.00 in a research note on Thursday, April 18th. Wells Fargo & Company lifted their price target on Westlake from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. Barclays lifted their price target on Westlake from $142.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Citigroup lifted their price target on Westlake from $140.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Finally, Vertical Research lowered Westlake from a “buy” rating to a “hold” rating and set a $154.00 price target for the company. in a research note on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average 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.