Westlake Chemical Corporation (NYSE:WLK) manufacturer of specialty chemicals, is expected to report third quarter earnings results, before market open, on Tuesday 3rd November 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 0.46 per share.
Looking ahead, the full year income are expected at $ 1.69 per share on the revenues of $ 7439.35 million.
Previous Quarter Performance
Westlake Chemical Corporation unveiled income for the second quarter of $ 0.11 per share, from the revenue of $ 1,709.00 million. The consensus estimates are $ 1650.00 million in revenue The top line results outshined analysts by $ 59.00 million or 3.58 percent.
Stock Performance
Shares of Westlake Chemical Corporation traded up $ 3.31 or 4.90 percent on Monday, reaching $ 70.93 with volume of 282.90 thousand shares. Westlake Chemical Corporation has traded high as $ 72.14 and has cracked $ 68.30 on the downward trend
The closing price of $ 70.93, representing a 133.25 % increase from the 52 week low of $ 28.99 and a 10.61 % decrease over the 52 week high of $ 75.65.
The company has a market capital of $ 9.06 billion and is part of the Basic Materials sector and Specialty Chemicals industry.
Recent Analyst recommendations
- On 9th October 2020, upgraded by Citigroup to Buy from Neutral rating, with $ 78.00 target price.
- On 6th October 2020, maintained by Wells Fargo & Co at Overweight rating, with $ 79.00 target price.
- On 6th October 2020, maintained by UBS Group at Sell rating, with $ 35.00 target price.
- On 30th September 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 62.00 target price.
- On 10th September 2020, maintained by Bank of America at Underweight rating, with $ 50.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.27 per share on August 14, 2020. The dividend were payable on September 9, 2020 to holders of record as of the close of business on August 25, 2020 and ex-dividend date on August 24, 2020.
Conference Call
Westlake Chemical Corporation will be hosting a conference call at 11:00 AM eastern time on 3rd November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.westlake.com
Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products worldwide. It operates through two segments, Olefins and Vinyls. The Olefins segment offers polyethylene, styrene monomers, and various ethylene co-products, as well as sells propylene, crude butadiene, pyrolysis gasoline, and hydrogen products.
