Westlake Chemical Partners (WLKP) to Release Quarterly Earnings on Wednesday

Westlake Chemical Partners (NYSE:WLKP) is scheduled to be announcing its earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Westlake Chemical Partners (NYSE:WLKP) last released its quarterly earnings data on Tuesday, February 20th. The basic materials company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The business had revenue of $297.27 million during the quarter, compared to analysts’ expectations of $316.62 million. Westlake Chemical Partners had a net margin of 4.56% and a return on equity of 6.25%. During the same quarter in the previous year, the company posted $0.48 EPS. On average, analysts expect Westlake Chemical Partners to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Westlake Chemical Partners Stock Performance

Shares of WLKP opened at $21.89 on Tuesday. The company has a market capitalization of $771.18 million, a price-to-earnings ratio of 14.21 and a beta of 1.08. The company has a quick ratio of 3.94, a current ratio of 4.02 and a debt-to-equity ratio of 0.47. Westlake Chemical Partners has a 52-week low of $20.86 and a 52-week high of $23.68. The stock has a 50 day moving average price of $22.21 and a 200 day moving average price of $22.14.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Westlake Chemical Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 26th.

Insider Buying and Selling at Westlake Chemical Partners

In related news, SVP Andrew Kenner purchased 4,230 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were purchased at an average price of $22.16 per share, with a total value of $93,736.80. Following the completion of the acquisition, the senior vice president now directly owns 145,839 shares in the company, valued at approximately $3,231,792.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders bought 24,230 shares of company stock worth $537,587. 1.10% of the stock is owned by insiders.

About Westlake Chemical Partners

Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company's ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis.