Shares of Westlake Chemical Co. (NYSE:WLK) have received a consensus rating of “Hold” from the twenty research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $92.81.

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Westlake Chemical to $62.00 and set a “sector perform” rating on the stock in a research note on Monday, May 13th. Zacks Investment Research upgraded shares of Westlake Chemical from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. Goldman Sachs Group upgraded shares of Westlake Chemical from a “neutral” rating to a “buy” rating and set a $59.82 target price for the company in a research note on Wednesday, May 15th. Susquehanna Bancshares restated a “neutral” rating and issued a $75.00 target price (down from $88.00) on shares of Westlake Chemical in a research note on Tuesday, February 26th. Finally, ValuEngine downgraded shares of Westlake Chemical from a “sell” rating to a “strong sell” rating in a research note on Monday, February 4th.

NYSE WLK opened at $60.99 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.31 and a current ratio of 2.14. Westlake Chemical has a 52-week low of $57.39 and a 52-week high of $122.76. The company has a market cap of $8.33 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 1.40 and a beta of 1.44.

Westlake Chemical (NYSE:WLK) last released its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.94 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.44). Westlake Chemical had a net margin of 9.18% and a return on equity of 14.57%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the business posted $2.20 earnings per share. Westlake Chemical’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, equities analysts predict that Westlake Chemical will post 5.69 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 29th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, May 28th. This represents a $1.00 annualized dividend and a yield of 1.64%. Westlake Chemical’s dividend payout ratio (DPR) is 12.80%.

In other Westlake Chemical news, Director H John Riley, Jr. sold 3,327 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $69.92, for a total value of $232,623.84. Following the completion of the transaction, the director now owns 22,652 shares of the company’s stock, valued at $1,583,827.84. The transaction was disclosed in a filing with the SEC, which is available at this link. 72.60% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Westlake Chemical in the first quarter worth $25,000. Icon Wealth Partners LLC purchased a new position in shares of Westlake Chemical in the first quarter worth $37,000. Penserra Capital Management LLC purchased a new position in shares of Westlake Chemical in the fourth quarter worth $37,000. TCG Advisors LP purchased a new position in shares of Westlake Chemical in the first quarter worth $39,000. Finally, First Mercantile Trust Co. purchased a new position in shares of Westlake Chemical in the first quarter worth $139,000. 27.64% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Westlake Chemical (NYSE:WLK)

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