Q3 2018 Earnings Estimate for Westlake Chemical Co. (WLK) Issued By SunTrust Banks

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Westlake Chemical Co. (NYSE:WLK) – Equities research analysts at SunTrust Banks lowered their Q3 2018 EPS estimates for shares of Westlake Chemical in a report issued on Monday, September 17th, Zacks Investment Research reports. SunTrust Banks analyst J. Sheehan now expects that the specialty chemicals company will post earnings per share of $2.35 for the quarter, down from their prior forecast of $2.39. SunTrust Banks also issued estimates for Westlake Chemical’s Q4 2018 earnings at $1.59 EPS, FY2018 earnings at $8.65 EPS and FY2019 earnings at $9.07 EPS.

Westlake Chemical (NYSE:WLK) last posted its quarterly earnings data on Thursday, August 2nd. The specialty chemicals company reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.30). The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Westlake Chemical had a net margin of 18.55% and a return on equity of 19.44%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.21 EPS.

A number of other analysts have also recently commented on WLK. Sanford C. Bernstein began coverage on Westlake Chemical in a research report on Wednesday, June 20th. They set an “outperform” rating and a $150.00 price objective for the company. Royal Bank of Canada reiterated a “hold” rating and set a $108.00 price objective on shares of Westlake Chemical in a research report on Monday, August 6th. ValuEngine cut Westlake Chemical from a “buy” rating to a “hold” rating in a research report on Monday, June 18th. Citigroup reduced their price target on Westlake Chemical from $133.00 to $131.00 and set a “buy” rating for the company in a research report on Wednesday, July 11th. Finally, MED restated a “buy” rating and issued a $140.00 price target on shares of Westlake Chemical in a research report on Thursday, August 2nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $111.89.

Westlake Chemical stock traded up $1.29 during mid-day trading on Thursday, reaching $80.83. 957,500 shares of the stock traded hands, compared to its average volume of 838,549. The stock has a market cap of $10.78 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 0.74 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.51 and a current ratio of 2.27. Westlake Chemical has a 12-month low of $79.08 and a 12-month high of $124.29.

A number of institutional investors and hedge funds have recently modified their holdings of WLK. LS Investment Advisors LLC purchased a new stake in shares of 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 valued at approximately $130,000. C M Bidwell & Associates Ltd. bought a new position in Westlake Chemical during the first quarter valued at approximately $142,000. Daiwa Securities Group Inc. bought a new position in Westlake Chemical during the second quarter valued at approximately $157,000. Finally, Korea Investment CORP bought a new position in Westlake Chemical during the second quarter valued at approximately $194,000. Institutional investors and hedge funds own 30.81% of the company’s stock.

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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Earnings History and Estimates for Westlake Chemical (NYSE:WLK)

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