Westlake Co. (NYSE:WLK) Receives $96.62 Consensus PT from Analysts

Westlake Co. (NYSE:WLK - Get Free Report) has received a consensus rating of "Moderate Buy" from the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $96.62.

A number of research firms have recently weighed in on WLK. Wall Street Zen cut Westlake from a "hold" rating to a "sell" rating in a report on Friday, May 9th. JPMorgan Chase & Co. decreased their price objective on Westlake from $110.00 to $82.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Wells Fargo & Company restated an "equal weight" rating and issued a $76.00 price objective (down from $95.00) on shares of Westlake in a report on Tuesday, May 20th. BMO Capital Markets set a $94.00 price target on Westlake and gave the stock a "market perform" rating in a report on Tuesday, May 20th. Finally, The Goldman Sachs Group lowered their price target on Westlake from $130.00 to $95.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th.

Institutional Trading of Westlake

A number of hedge funds have recently added to or reduced their stakes in WLK. Blue Trust Inc. raised its stake in shares of Westlake by 247.7% during the fourth quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company's stock worth $26,000 after purchasing an additional 161 shares during the last quarter. Private Trust Co. NA increased its stake in Westlake by 251.1% in the 1st quarter. Private Trust Co. NA now owns 316 shares of the specialty chemicals company's stock valued at $32,000 after buying an additional 226 shares during the period. Signaturefd LLC increased its stake in Westlake by 127.1% in the 1st quarter. Signaturefd LLC now owns 427 shares of the specialty chemicals company's stock valued at $43,000 after buying an additional 239 shares during the period. Allworth Financial LP raised its position in Westlake by 6,316.7% during the 4th quarter. Allworth Financial LP now owns 385 shares of the specialty chemicals company's stock worth $45,000 after buying an additional 379 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. lifted its stake in shares of Westlake by 1,668.2% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 389 shares of the specialty chemicals company's stock worth $45,000 after acquiring an additional 367 shares during the period. 28.40% of the stock is owned by institutional investors and hedge funds.

Westlake Trading Down 0.8%

NYSE:WLK traded down $0.55 on Friday, hitting $70.98. The stock had a trading volume of 3,678,458 shares, compared to its average volume of 663,549. The company has a fifty day moving average price of $86.43 and a two-hundred day moving average price of $105.41. Westlake has a 1-year low of $69.47 and a 1-year high of $160.96. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41. The stock has a market cap of $9.10 billion, a price-to-earnings ratio of 99.97, a PEG ratio of 2.36 and a beta of 1.03.

Westlake (NYSE:WLK - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The specialty chemicals company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of $0.70 by ($1.01). The business had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.97 billion. Westlake had a return on equity of 6.93% and a net margin of 0.81%. The company's revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.34 earnings per share. Equities research analysts expect that Westlake will post 6.48 earnings per share for the current fiscal year.

Westlake Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 2.96%. The ex-dividend date is Tuesday, May 20th. Westlake's dividend payout ratio is presently 70.47%.

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.