Westlake (NYSE:WLK) Posts Quarterly Earnings Results, Misses Expectations By $0.80 EPS

Westlake (NYSE:WLK) issued its quarterly earnings data on Tuesday. The specialty chemicals company reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.80), Briefing.com reports. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.31 billion. Westlake had a net margin of 0.81% and a return on equity of 6.93%. Westlake’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $2.20 earnings per share.

Westlake Trading Down 3.3 %

Shares of Westlake stock traded down $4.48 during trading hours on Friday, reaching $131.87. The stock had a trading volume of 124,452 shares, compared to its average volume of 441,651. The firm has a market capitalization of $16.96 billion, a price-to-earnings ratio of 191.92, a P/E/G ratio of 1.91 and a beta of 1.19. Westlake has a 1 year low of $118.64 and a 1 year high of $162.64. The company has a current ratio of 2.79, a quick ratio of 1.94 and a debt-to-equity ratio of 0.41. The firm has a 50 day simple moving average of $140.53 and a two-hundred day simple moving average of $146.23.

Analysts Set New Price Targets

Several analysts have recently commented on WLK shares. JPMorgan Chase & Co. increased their price target on shares of Westlake from $123.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Royal Bank of Canada dropped their price target on Westlake from $174.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, October 11th. UBS Group cut their price target on Westlake from $160.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday. BMO Capital Markets increased their price objective on Westlake from $167.00 to $171.00 and gave the company a “market perform” rating in a research note on Tuesday, August 13th. Finally, Mizuho assumed coverage on shares of Westlake in a research note on Thursday, August 8th. They issued an “outperform” rating and a $170.00 target price for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $162.92.

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.