Q4 Earnings Estimate for Westlake Issued By Zacks Research

Westlake Co. (NYSE:WLK) – Zacks Research reduced their Q4 2024 earnings estimates for shares of Westlake in a research report issued to clients and investors on Monday, November 25th. Zacks Research analyst R. Department now forecasts that the specialty chemicals company will earn $1.07 per share for the quarter, down from their prior estimate of $1.19. The consensus estimate for Westlake’s current full-year earnings is $6.47 per share. Zacks Research also issued estimates for Westlake’s FY2025 earnings at $6.82 EPS, Q2 2026 earnings at $2.64 EPS and FY2026 earnings at $8.63 EPS.

Westlake (NYSE:WLK) last announced its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.80). The firm had revenue of $3.12 billion for 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%. Westlake’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 EPS.

WLK has been the topic of several other reports. Mizuho began coverage on Westlake in a research note on Thursday, August 8th. They issued an “outperform” rating and a $170.00 price target on the stock. Royal Bank of Canada dropped their target price on shares of Westlake from $170.00 to $167.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. BMO Capital Markets reduced their price target on shares of Westlake from $171.00 to $165.00 and set a “market perform” rating for the company in a report on Wednesday, November 13th. StockNews.com upgraded shares of Westlake from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, UBS Group decreased their target price on Westlake from $160.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $162.17.

Westlake Stock Up 0.3 %

Shares of NYSE:WLK opened at $128.55 on Wednesday. Westlake has a 1 year low of $118.64 and a 1 year high of $162.64. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.79 and a quick ratio of 2.04. The business’s 50-day moving average is $137.83 and its 200-day moving average is $144.05. The company has a market capitalization of $16.55 billion, a price-to-earnings ratio of 180.55, a P/E/G ratio of 2.55 and a beta of 1.19.

Hedge Funds Weigh In On Westlake

Several institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank lifted its position in shares of Westlake by 31.7% during the 3rd quarter. Toronto Dominion Bank now owns 4,855 shares of the specialty chemicals company’s stock valued at $730,000 after buying an additional 1,169 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Westlake by 4.5% during the third quarter. Geode Capital Management LLC now owns 552,646 shares of the specialty chemicals company’s stock valued at $82,837,000 after purchasing an additional 23,558 shares during the last quarter. Continuum Advisory LLC boosted its position in Westlake by 43.2% during the third quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 96 shares during the period. Wahed Invest LLC increased its stake in shares of Westlake by 26.5% in the third quarter. Wahed Invest LLC now owns 812 shares of the specialty chemicals company’s stock worth $122,000 after purchasing an additional 170 shares in the last quarter. Finally, State Street Corp raised its position in shares of Westlake by 0.8% in the third quarter. State Street Corp now owns 1,198,710 shares of the specialty chemicals company’s stock valued at $180,154,000 after purchasing an additional 9,838 shares during the period. Hedge funds and other institutional investors own 28.40% of the company’s stock.

Insider Buying and Selling at Westlake

In other news, Director David Tsung-Hung Chao sold 1,750 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $130.00, for a total transaction of $227,500.00. Following the completion of the sale, the director now owns 9,534 shares in the company, valued at $1,239,420. This trade represents a 15.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

Westlake Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 26th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Tuesday, November 26th. Westlake’s payout ratio is 295.77%.

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.