Westlake (WLK) Scheduled to Post Quarterly Earnings on Tuesday

Westlake (NYSE:WLK - Get Free Report) is scheduled to be announcing its earnings results before the market opens on Tuesday, November 5th. Analysts expect the company to announce earnings of $2.04 per share for the quarter. Individual that wish to register for the company's earnings conference call can do so using this link.

Westlake (NYSE:WLK - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.41. The company had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.22 billion. Westlake had a net margin of 2.27% and a return on equity of 7.84%. The firm's revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.31 earnings per share. On average, analysts expect Westlake to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Westlake Stock Down 1.4 %

WLK traded down $1.84 during trading on Tuesday, hitting $132.02. The company had a trading volume of 440,724 shares, compared to its average volume of 433,316. The company has a market capitalization of $16.98 billion, a PE ratio of 63.47, a PEG ratio of 1.89 and a beta of 1.17. The company has a quick ratio of 1.94, a current ratio of 2.61 and a debt-to-equity ratio of 0.41. Westlake has a one year low of $113.57 and a one year high of $162.64. The firm's 50-day moving average price is $142.36 and its 200 day moving average price is $147.00.

Westlake Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Tuesday, August 20th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.59%. This is a positive change from Westlake's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, August 20th. Westlake's payout ratio is 100.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on WLK shares. Piper Sandler dropped their target price on Westlake from $180.00 to $170.00 and set an "overweight" rating on the stock in a research report on Thursday, September 5th. Bank of America raised shares of Westlake from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $151.00 to $159.00 in a research report on Wednesday, October 16th. UBS Group decreased their target price on shares of Westlake from $172.00 to $160.00 and set a "neutral" rating for the company in a research report on Tuesday, July 9th. BMO Capital Markets boosted their price target on shares of Westlake from $167.00 to $171.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada reduced their price objective on shares of Westlake from $174.00 to $170.00 and set an "outperform" rating for the company in a research note on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $165.92.

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.