Westlake Co. (NYSE:WLK) Given Average Recommendation of “Moderate Buy” by Brokerages

Westlake Co. (NYSE:WLK) has been assigned an average rating of “Moderate Buy” from the thirteen analysts that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $89.85.

A number of equities research analysts have issued reports on WLK shares. Wells Fargo & Company reiterated an “equal weight” rating and issued a $76.00 target price (down previously from $95.00) on shares of Westlake in a research report on Tuesday, May 20th. BMO Capital Markets set a $94.00 price target on shares of Westlake and gave the stock a “market perform” rating in a research note on Tuesday, May 20th. Mizuho dropped their price target on shares of Westlake from $100.00 to $82.00 and set an “outperform” rating on the stock in a research note on Monday, June 2nd. Royal Bank of Canada dropped their price target on shares of Westlake from $96.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 28th. Finally, Citigroup restated a “buy” rating and set a $85.00 price target (down previously from $95.00) on shares of Westlake in a research note on Wednesday, May 28th.

Westlake Stock Up 2.1%

WLK stock opened at $73.51 on Friday. Westlake has a 12-month low of $68.55 and a 12-month high of $156.64. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41. The company has a market cap of $9.43 billion, a price-to-earnings ratio of 103.54, a PEG ratio of 2.36 and a beta of 0.91. The company has a 50 day moving average of $83.54 and a two-hundred day moving average of $103.49.

Westlake (NYSE:WLK) last released its earnings results on Friday, May 2nd. The specialty chemicals company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($1.01). Westlake had a return on equity of 6.93% and a net margin of 0.81%. The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the previous year, the company earned $1.34 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, equities analysts anticipate that Westlake will post 6.48 earnings per share for the current fiscal year.

Westlake Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Tuesday, May 20th were given a $0.525 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $2.10 annualized dividend and a yield of 2.86%. Westlake’s dividend payout ratio is 70.47%.

Institutional Trading of Westlake

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in Westlake by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 557,943 shares of the specialty chemicals company’s stock worth $63,832,000 after purchasing an additional 5,297 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Westlake by 4.4% during the 4th quarter. Rhumbline Advisers now owns 98,056 shares of the specialty chemicals company’s stock worth $11,242,000 after acquiring an additional 4,088 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Westlake by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 236,354 shares of the specialty chemicals company’s stock worth $27,098,000 after acquiring an additional 11,992 shares during the period. Millennium Management LLC lifted its holdings in shares of Westlake by 122.6% during the 4th quarter. Millennium Management LLC now owns 193,087 shares of the specialty chemicals company’s stock worth $22,137,000 after acquiring an additional 106,329 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Westlake by 3.5% during the 4th quarter. Ameriprise Financial Inc. now owns 107,396 shares of the specialty chemicals company’s stock worth $12,312,000 after acquiring an additional 3,588 shares during the period. 28.40% of the stock is currently owned by institutional investors and hedge funds.

Westlake Company Profile

Westlake Corporation engages in the manufacture and marketing of performance and essential materials, and housing and infrastructure products in the United States, Canada, Germany, China, Mexico, Brazil, France, Italy, Taiwan, and internationally. The company operates through two segments: Performance and Essential Materials and Housing and Infrastructure Products.