Westlake Chemical (NYSE:WLK) issued an update on its FY19 earnings guidance on Monday morning. The company provided earnings per share guidance of $3.10-4.28 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.05. The company issued revenue guidance of $8.0-8.8 billion, compared to the consensus revenue estimate of $8.54 billion.Westlake Chemical also updated its Q2 guidance to $0.73-0.87 EPS.
WLK stock opened at $68.14 on Thursday. Westlake Chemical has a 52-week low of $57.20 and a 52-week high of $112.85. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.14 and a quick ratio of 1.31. The company’s fifty day simple moving average is $63.55. The company has a market capitalization of $8.61 billion, a P/E ratio of 8.72, a P/E/G ratio of 1.85 and a beta of 1.59.
Westlake Chemical (NYSE:WLK) last posted its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.44). Westlake Chemical had a return on equity of 14.57% and a net margin of 9.18%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the company earned $2.20 earnings per share. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. As a group, sell-side analysts expect that Westlake Chemical will post 4.89 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Tuesday, May 28th. Westlake Chemical’s dividend payout ratio (DPR) is presently 12.80%.
WLK has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of Westlake Chemical from $90.00 to $82.00 and set an overweight rating for the company in a research report on Thursday, March 21st. They noted that the move was a valuation call. Cascend Securities initiated coverage on shares of Westlake Chemical in a research report on Friday, April 5th. They set a buy rating and a $94.00 price objective for the company. Nomura upgraded shares of Westlake Chemical from a reduce rating to a neutral rating and increased their price objective for the stock from $70.00 to $79.00 in a research report on Monday, April 15th. Zacks Investment Research upgraded shares of Westlake Chemical from a sell rating to a hold rating in a research report on Saturday, April 27th. Finally, Alembic Global Advisors set a $105.00 price objective on shares of Westlake Chemical and gave the stock a buy rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. Westlake Chemical currently has an average rating of Hold and a consensus price target of $87.86.
About Westlake Chemical
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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