Westlake Chemical (WLK) Set to Announce Quarterly Earnings on Tuesday

Westlake Chemical (NYSE:WLK) is scheduled to be issuing its Q3 2019 quarterly earnings data before the market opens on Tuesday, November 5th. Analysts expect the company to announce earnings of $1.02 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Westlake Chemical (NYSE:WLK) last posted its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.08. Westlake Chemical had a net margin of 7.39% and a return on equity of 11.05%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the previous year, the company posted $2.12 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, analysts expect Westlake Chemical to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

NYSE WLK opened at $65.75 on Friday. Westlake Chemical has a twelve month low of $55.82 and a twelve month high of $81.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.07. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 2.75 and a beta of 1.61. The firm’s 50 day moving average price is $63.38 and its two-hundred day moving average price is $64.38.

WLK has been the topic of several research analyst reports. Bank of America cut shares of Westlake Chemical from a “buy” rating to an “underperform” rating in a research report on Friday, August 16th. Tudor Pickering cut shares of Westlake Chemical from a “hold” rating to a “sell” rating in a research report on Friday. Nomura lowered their price objective on shares of Westlake Chemical from $53.00 to $51.00 and set a “reduce” rating on the stock in a research report on Wednesday, September 18th. BMO Capital Markets lowered their price objective on shares of Westlake Chemical from $75.00 to $71.00 and set a “market perform” rating on the stock in a research report on Friday, August 9th. Finally, ValuEngine upgraded shares of Westlake Chemical from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. Westlake Chemical has an average rating of “Hold” and an average target price of $71.72.

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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Earnings History for Westlake Chemical (NYSE:WLK)

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