Wall Street analysts expect that Westlake Chemical Co. (NYSE:WLK) will report earnings of $2.08 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Westlake Chemical’s earnings, with estimates ranging from $1.96 to $2.33. Westlake Chemical posted earnings of $1.26 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 65.1%. The business is expected to report its next quarterly earnings report before the market opens on Thursday, May 3rd.
On average, analysts expect that Westlake Chemical will report full year earnings of $8.48 per share for the current fiscal year, with EPS estimates ranging from $7.90 to $9.53. For the next financial year, analysts forecast that the business will report earnings of $8.68 per share, with EPS estimates ranging from $8.15 to $9.99. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Westlake Chemical.
Westlake Chemical (NYSE:WLK) last released its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $1.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.69 by ($0.07). Westlake Chemical had a return on equity of 16.48% and a net margin of 16.22%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the business earned $0.87 earnings per share. Westlake Chemical’s revenue for the quarter was up 15.9% on a year-over-year basis.
In related news, SVP George J. Mangieri sold 4,335 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $111.22, for a total value of $482,138.70. Following the transaction, the senior vice president now owns 5,810 shares in the company, valued at $646,188.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Andrew Kenner sold 6,028 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $120.00, for a total transaction of $723,360.00. Following the completion of the transaction, the senior vice president now owns 17,465 shares in the company, valued at approximately $2,095,800. The disclosure for this sale can be found here. Insiders sold 103,080 shares of company stock worth $11,545,548 over the last three months. Corporate insiders own 72.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. raised its holdings in Westlake Chemical by 133.8% in the fourth quarter. Advisor Group Inc. now owns 1,501 shares of the specialty chemicals company’s stock valued at $159,000 after buying an additional 859 shares during the period. MHI Funds LLC purchased a new position in Westlake Chemical in the fourth quarter valued at approximately $163,000. Cornerstone Capital Management Holdings LLC. purchased a new position in Westlake Chemical in the third quarter valued at approximately $137,000. BB&T Securities LLC purchased a new position in Westlake Chemical in the fourth quarter valued at approximately $200,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Westlake Chemical in the fourth quarter valued at approximately $233,000. Hedge funds and other institutional investors own 30.29% of the company’s stock.
Shares of Westlake Chemical stock traded down $3.06 during mid-day trading on Friday, hitting $109.79. 909,828 shares of the stock were exchanged, compared to its average volume of 794,493. Westlake Chemical has a twelve month low of $59.58 and a twelve month high of $121.30. The stock has a market capitalization of $14,834.10, a P/E ratio of 20.28, a P/E/G ratio of 1.11 and a beta of 1.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.76 and a quick ratio of 1.30.
TRADEMARK VIOLATION NOTICE: “Brokerages Anticipate Westlake Chemical Co. (WLK) to Post $2.08 Earnings Per Share” was first reported by Week Herald and is the property of of Week Herald. If you are viewing this article on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://weekherald.com/2018/04/20/brokerages-anticipate-westlake-chemical-co-wlk-to-post-2-08-earnings-per-share.html.
Westlake Chemical Company Profile
Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products primarily in North America and Europe. 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Westlake Chemical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westlake Chemical and related companies with MarketBeat.com's FREE daily email newsletter.