$3.44 Billion in Sales Expected for Westlake Co. (NYSE:WLK) This Quarter

Wall Street analysts expect Westlake Co. (NYSE:WLKGet Rating) to announce $3.44 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Westlake’s earnings, with the highest sales estimate coming in at $3.79 billion and the lowest estimate coming in at $3.13 billion. Westlake reported sales of $2.36 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 45.8%. The company is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Westlake will report full-year sales of $13.87 billion for the current financial year, with estimates ranging from $10.88 billion to $15.85 billion. For the next fiscal year, analysts anticipate that the company will post sales of $14.44 billion, with estimates ranging from $13.36 billion to $15.68 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Westlake.

Westlake (NYSE:WLKGet Rating) last posted its earnings results on Tuesday, February 22nd. The specialty chemicals company reported $4.98 EPS for the quarter, topping the consensus estimate of $4.62 by $0.36. The firm had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Westlake had a net margin of 17.11% and a return on equity of 26.37%. Westlake’s quarterly revenue was up 78.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 EPS.

Several brokerages have recently commented on WLK. StockNews.com upgraded shares of Westlake from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 2nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $135.00 price target on shares of Westlake in a research note on Friday, April 8th. Citigroup raised their target price on shares of Westlake from $125.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, February 25th. The Goldman Sachs Group raised their target price on shares of Westlake from $110.00 to $129.00 and gave the company a “neutral” rating in a research note on Tuesday, January 18th. Finally, UBS Group lowered their target price on shares of Westlake from $90.00 to $89.00 and set a “sell” rating on the stock in a research note on Tuesday, January 4th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $123.46.

In other news, EVP Robert F. Buesinger sold 2,730 shares of Westlake stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $115.55, for a total transaction of $315,451.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Johnathan Stevan Zoeller sold 1,006 shares of Westlake stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $110.39, for a total transaction of $111,052.34. The disclosure for this sale can be found here. Insiders have sold a total of 38,090 shares of company stock valued at $4,720,673 over the last three months. 73.80% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. National Bank of Canada FI acquired a new position in Westlake during the fourth quarter valued at approximately $29,000. Spire Wealth Management acquired a new position in Westlake during the fourth quarter valued at approximately $32,000. Wahed Invest LLC bought a new position in Westlake in the fourth quarter valued at approximately $38,000. FourThought Financial LLC bought a new position in Westlake in the fourth quarter valued at approximately $43,000. Finally, Retirement Planning Co of New England Inc. bought a new position in Westlake in the fourth quarter valued at approximately $46,000.

WLK stock opened at $126.65 on Tuesday. Westlake has a 12-month low of $78.06 and a 12-month high of $127.21. The company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.58. The company has a market cap of $16.23 billion, a price-to-earnings ratio of 8.13, a PEG ratio of 0.21 and a beta of 1.29. The company has a 50 day moving average of $115.95 and a two-hundred day moving average of $104.79.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Tuesday, March 1st were issued a dividend of $0.2975 per share. This represents a $1.19 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Monday, February 28th. Westlake’s dividend payout ratio is currently 7.64%.

Westlake Company Profile (Get Rating)

Westlake Corporation manufactures and supplies petrochemicals, polymers, and building products worldwide. It operates through two segments, Performance and Essential Materials; and Housing and Infrastructure Products. The Performance and Essential Materials segment manufactures and markets polyethylene, styrene monomer, ethylene co-products, PVC, VCM, ethylene dichloride chlor-alkali, and chlorinated derivative products.

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