$2.21 Billion in Sales Expected for Westlake Chemical Co. (WLK) This Quarter
Wall Street analysts forecast that Westlake Chemical Co. (NYSE:WLK) will post $2.21 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Westlake Chemical’s earnings. The lowest sales estimate is $2.16 billion and the highest is $2.26 billion. Westlake Chemical reported sales of $2.11 billion during the same quarter last year, which indicates a positive year over year growth rate of 4.7%. The company is expected to announce its next quarterly earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that Westlake Chemical will report full-year sales of $8.68 billion for the current fiscal year, with estimates ranging from $8.59 billion to $8.76 billion. For the next year, analysts forecast that the firm will post sales of $9.03 billion, with estimates ranging from $8.90 billion to $9.33 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Westlake Chemical.
Westlake Chemical (NYSE:WLK) last announced its earnings results on Thursday, August 2nd. The specialty chemicals company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.52 by ($0.30). The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.19 billion. Westlake Chemical had a return on equity of 19.44% and a net margin of 18.55%. Westlake Chemical’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 EPS.
A number of institutional investors and hedge funds have recently modified their holdings of WLK. LS Investment Advisors LLC bought a new position in Westlake Chemical during the second quarter worth about $116,000. Flagship Harbor Advisors LLC bought a new position in Westlake Chemical during the second quarter worth about $130,000. Daiwa Securities Group Inc. bought a new position in Westlake Chemical during the second quarter worth about $157,000. Korea Investment CORP bought a new position in Westlake Chemical during the second quarter worth about $194,000. Finally, Standard Life Aberdeen plc bought a new position in Westlake Chemical during the second quarter worth about $226,000. Hedge funds and other institutional investors own 30.81% of the company’s stock.
Westlake Chemical stock traded up $1.29 during mid-day trading on Friday, hitting $80.83. The stock had a trading volume of 957,500 shares, compared to its average volume of 838,549. The stock has a market cap of $10.78 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 0.74 and a beta of 1.51. Westlake Chemical has a 12 month low of $79.08 and a 12 month high of $124.29. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.46.
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.
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