Westlake Chemical Corporation (NYSE: WLK) recently received a number of ratings updates from brokerages and research firms:

  • 10/13/2017 – Westlake Chemical Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $95.00 price target on the stock. According to Zacks, “Westlake Chemical Corporation is a vertically integrated international manufacturer and supplier of petrochemicals, polymers and fabricated products. The company’s range of products includes ethylene, polyethylene, styrene, vinyl intermediates, PVC, PVC Pipe, PVC windows, fence and decking components. “
  • 10/13/2017 – Westlake Chemical Corporation had its price target raised by analysts at UBS AG from $56.00 to $61.00. They now have a “sell” rating on the stock.
  • 10/10/2017 – Westlake Chemical Corporation had its price target raised by analysts at Cowen and Company from $78.00 to $92.00. They now have an “outperform” rating on the stock.
  • 9/28/2017 – Westlake Chemical Corporation had its “buy” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $93.00 price target on the stock.
  • 9/27/2017 – Westlake Chemical Corporation had its “positive” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $94.00 price target on the stock, up previously from $77.00.
  • 9/26/2017 – Westlake Chemical Corporation was upgraded by analysts at Instinet from a “neutral” rating to a “buy” rating.
  • 9/26/2017 – Westlake Chemical Corporation was upgraded by analysts at Nomura from a “neutral” rating to a “buy” rating. They now have a $98.00 price target on the stock.
  • 9/6/2017 – Westlake Chemical Corporation had its “buy” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $86.00 price target on the stock.
  • 9/6/2017 – Westlake Chemical Corporation had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada.
  • 8/22/2017 – Westlake Chemical Corporation had its price target raised by analysts at Cowen and Company from $70.00 to $78.00. They now have an “outperform” rating on the stock.

Westlake Chemical Corporation (NYSE:WLK) opened at 83.65 on Wednesday. The company has a market capitalization of $10.80 billion, a P/E ratio of 23.91 and a beta of 1.63. Westlake Chemical Corporation has a 1-year low of $48.92 and a 1-year high of $85.86. The firm’s 50-day moving average is $80.79 and its 200-day moving average is $69.60.

Westlake Chemical Corporation (NYSE:WLK) last announced its earnings results on Thursday, August 3rd. The specialty chemicals company reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.02. Westlake Chemical Corporation had a net margin of 6.57% and a return on equity of 13.68%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Westlake Chemical Corporation’s revenue was up 82.2% compared to the same quarter last year. Equities research analysts predict that Westlake Chemical Corporation will post $4.85 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 18th. Investors of record on Friday, September 1st were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.84 dividend on an annualized basis and a yield of 1.00%. This is a positive change from Westlake Chemical Corporation’s previous quarterly dividend of $0.19. Westlake Chemical Corporation’s payout ratio is 24.00%.

In other Westlake Chemical Corporation news, VP Mark Steven Bender sold 13,794 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $70.22, for a total value of $968,614.68. Following the sale, the vice president now owns 44,449 shares of the company’s stock, valued at approximately $3,121,208.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 72.50% of the company’s stock.

Westlake Chemical Corporation is a global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The Company’s products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.

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