Revenue Update on Westlake Chemical Corporation(NYSE:WLK)

Westlake Chemical Corporation(NYSE:WLK) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $1.09B. Analysts estimated a revenue of $1.07B. Earnings per share were $1.22. Analysts had estimated an EPS of $0.98.

In a different note, On Jun 15, 2016, SunTrust Robinson Humphrey said it Upgrades its rating on Westlake Chemical Corporation. In the research note, the firm Raises the price-target to $44.00 per share. The shares have been rated ‘Buy’ by the firm. On May 16, 2016, JP Morgan said it Maintains its rating on Westlake Chemical Corporation. In the research note, the firm Raises the price-target to $52.00 per share. The shares have been rated ‘Overweight’ by the firm.

Westlake Chemical Corporation (WLK) made into the market gainers list on Thursdays trading session with the shares advancing 0.97% or 0.44 points. Due to strong positive momentum, the stock ended at $45.79, which is also near the day’s high of $46.14. The stock began the session at $45.16 and the volume stood at 8,59,271 shares. The 52-week high of the shares is $67.88 and the 52 week low is $39.48. The company has a current market capitalization of $5,967 M and it has 13,03,06,311 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Nov 12, 2015, George J Mangieri (VP & Chief Accounting Officer) sold 2,785 shares at $60.20 per share price.Also, On Aug 13, 2015, Robert T Blakely (director) sold 5,143 shares at $63.00 per share price.On May 27, 2015, Jeffrey L Taylor (Sr VP, Polyethylene) sold 8,143 shares at $70.54 per share price, according to the Form-4 filing with the securities and exchange commission.

Westlake Chemical Corporation is a vertically integrated manufacturer and marketer of basic chemicals vinyls polymers and fabricated building products. The Company’s products include a range of chemicals used in the world which are fundamental to many diverse consumer and industrial markets including flexible and rigid packaging automotive products coatings residential and commercial construction as well as other durable and non-durable goods. The Company operates in two principal operating segments Olefins and Vinyls. The Company is an integrated producer of vinyls with substantial downstream integration into polyvinyl chloride (PVC) building products. The Olefins segment manufactures a range of petrochemical products. The Vinyls segment primarily offers PVC vinyl chloride monomer (VCM) ethylene dichloride (EDC) chlorine caustic soda and through Westlake Chemical OpCo LP ethylene.

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