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

Westlake (NYSE:WLK) released its quarterly earnings results on Tuesday. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.80), Briefing.com reports. Westlake had a return on equity of 6.93% and a net margin of 0.81%. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the prior year, the business earned $2.20 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year.

Westlake Price Performance

Shares of NYSE WLK traded down $4.48 during trading on Friday, hitting $131.87. 124,452 shares of the company were exchanged, compared to its average volume of 441,651. The firm’s fifty day moving average price is $140.53 and its 200 day moving average price is $146.23. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.79 and a quick ratio of 1.94. The company has a market cap of $16.96 billion, a price-to-earnings ratio of 191.92, a PEG 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.

Wall Street Analysts Forecast Growth

Several analysts recently commented on WLK shares. StockNews.com downgraded shares of Westlake from a “hold” rating to a “sell” rating in a research report on Thursday, September 19th. Wells Fargo & Company decreased their target price on shares of Westlake from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Wednesday. Mizuho assumed coverage on Westlake in a research report on Thursday, August 8th. They issued an “outperform” rating and a $170.00 price target on the stock. Royal Bank of Canada lowered their target price on Westlake from $174.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, October 11th. Finally, UBS Group cut their price target on Westlake from $160.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.