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Insight into Westlake Chemical's 3Q17 Dividend

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Part 3
Insight into Westlake Chemical's 3Q17 Dividend PART 3 OF 5

Analysts’ Consensus on Westlake Chemical

Analysts’ consensus on Westlake Chemical

Westlake Chemical (WLK) is actively monitored by 15 analysts from different brokerage houses. Among them, 60% of the analysts recommended the stock as a “buy,” 33% recommended the stock as a “hold,” and 7% recommended the stock as a “sell.”

Analysts&#8217; Consensus on Westlake Chemical

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Analysts’ consensus indicates that Westlake Chemical’s 12-month target price is $75.36, which implies a potential return of 0.7% from the closing price on August 28, 2017.

Most analysts recommended a “buy”

Westlake Chemical’s 2Q17 earnings were better than analysts’ expectations—primarily due to contributions from the Axiall acquisition. The cost saving synergy effect hasn’t fully materialized yet. Once the integration is completed, the impact will be seen on its earnings, which will benefit investors. All of these factors would have influenced analysts’ “buy” recommendations for the stock.

Recommendations by individual brokerage firms

  • Cowen and Company recommended a target price of $78.0 for Westlake Chemical, which implies a potential return of 4.20% over the closing price of $74.84 as of August 28, 2017.
  • Suntrust Robinson recommended a target price of $77.0 for Westlake Chemical, which implies a potential return of 2.90% from the closing price of $74.84 as of August 28, 2017.
  • Instinet also recommended a target price of $77.0 for Westlake Chemical, which implies a return potential of 2.90% over the closing price of $74.84 as of August 28, 2017.

Investors looking for exposure to Westlake Chemical can invest in the iShares U.S. Basic Materials ETF (IYM), which has invested 0.40% of its portfolio in the company. The fund also provides exposure to Dow Chemical (DOW), Monsanto (MON), and Praxair (PX) with weights of 11.30%, 8.0%, and 5.90%, respectively, as of August 28, 2017.

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