Economy

Brokers Set Expectations for Westlake Chemical Corporation's Q3 2017 Earnings (WLK)

The fund owned 271,448 shares of the specialty chemicals company's stock after purchasing an additional 81,336 shares during the period. OppenheimerFunds Inc. purchased a new stake in Westlake Chemical Corporation during the 1st quarter valued at about $205,000.

WLK has been the subject of several research reports. Finally, Private Advisor Group LLC acquired a new stake in Westlake Chemical Corporation in the first quarter valued at approximately $215,000. Advisors Asset Management Inc. grew its position in Westlake Chemical Corporation by 162.8% during the 2nd quarter. Jupiter Asset Management Ltd acquired 5,633 shares as Taro Pharmaceutical Inds Ltd (TARO)'s stock declined 2.08%. BNP Paribas Arbitrage SA raised its stake in Westlake Chemical Corporation by 27,048.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,368,155 shares of the specialty chemicals company's stock valued at $90,367,000 after acquiring an additional 934,281 shares during the period. Vanguard Group Inc. now owns 4,201,948 shares of the specialty chemicals company's stock valued at $277,538,000 after acquiring an additional 326,298 shares during the period.

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A number of research firms have recently weighed in on WLK.

Analysts await Westlake Chemical Corporation (NYSE:WLK) to report earnings on November, 14. Cowen and Company upped their price objective on shares of Westlake Chemical Corporation from $66.00 to $70.00 and gave the stock an outperform rating in a report on Tuesday, May 23rd. Clark Cap Management Gp holds 0.03% of its portfolio in Westlake Chemical Corporation (NYSE:WLK) for 11,915 shares. Finally, Zacks Investment Research cut Westlake Chemical Corporation from a "buy" rating to a "hold" rating in a report on Wednesday, August 9th. SunTrust Banks has a "Buy" rating and a $86.00 price target on the stock.

The P/E ratio is now 23.20 and market capitalization is 10.48B.

Company shares last traded at $81.17 marginally over the 50 day moving average of $73.94 and significantly above the 200 day moving average of $67.25. Westlake Chemical has a 12-month low of $39.48 and a 12-month high of $68.08.

Westlake Chemical Corporation (NYSE:WLK) last released its earnings results on Thursday, August 3rd. It increased, as 25 investors sold Westlake Chemical Corporation shares while 57 reduced holdings. Analysts expect next quarter's EPS will be $1.16 with next year's EPS anticipated to be $5.31. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The firm's revenue was up 82.2% compared to the same quarter a year ago. After having $1.21 EPS previously, Westlake Chemical Corporation's analysts see 8.26 % EPS growth.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 18th.

Since May 17, 2017, it had 0 insider buys, and 1 insider sale for $409,198 activity. This is an increase from Westlake Chemical Corporation's previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.04%. Westlake Chemical Corporation's payout ratio is 24.00%. In other Westlake Chemical news, CFO Mark Steven Bender sold 12,000 shares of the firm's stock in a transaction that occurred on Friday, March 10th. $68.82's average target is -14.88% below currents $80.85 stock price. Following the completion of the transaction, the vice president now owns 44,449 shares of the company's stock, valued at $3,121,208.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The Company is also an integrated producer of vinyls with substantial downstream integration into polyvinyl chloride (PVC) building products.



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