Westlake (NYSE:WLK) Posts Earnings Results

Westlake (NYSE:WLK) posted its earnings results on Tuesday. The specialty chemicals company reported $1.41 earnings per share 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 the consensus estimate of $3.31 billion. Westlake had a return on equity of 6.93% and a net margin of 0.81%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $2.20 earnings per share.

Westlake Price Performance

Shares of WLK stock opened at $136.26 on Friday. Westlake has a twelve month low of $118.64 and a twelve month 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 stock has a fifty day simple moving average of $140.53 and a two-hundred day simple moving average of $146.23. The stock has a market capitalization of $17.52 billion, a price-to-earnings ratio of 191.92, a P/E/G ratio of 1.91 and a beta of 1.19.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays upgraded Westlake from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $162.00 to $180.00 in a report on Monday, September 30th. Mizuho initiated coverage on shares of Westlake in a research note on Thursday, August 8th. They set an “outperform” rating and a $170.00 price target for the company. Piper Sandler cut their price target on shares of Westlake from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. UBS Group decreased their price objective on shares of Westlake from $160.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, BMO Capital Markets upped their target price on Westlake from $167.00 to $171.00 and gave the company a “market perform” rating in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $162.92.

About Westlake

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.