|Bid||60.42 x 800|
|Ask||76.20 x 900|
|Day's Range||72.92 - 74.20|
|52 Week Range||72.92 - 124.30|
|Beta (3Y Monthly)||1.56|
|PE Ratio (TTM)||6.04|
|Earnings Date||Nov 5, 2018 - Nov 9, 2018|
|Forward Dividend & Yield||1.00 (1.31%)|
|1y Target Est||102.63|
Westlake Chemical Corporation will release its third quarter 2018 earnings prior to the market opening on Tuesday, November 6, 2018. The company will host a conference call at 11:00 a.m.
According to the GuruFocus All-in-One Screener, the following companies have high business predictability ratings and a wide margin of safety. Warning! GuruFocus has detected 3 Warning Signs with WLK. The company has a 3.5-star out of five business predictability rating and, according to the discounted cash flow calculator, a 54% margin of safety at $74 per share.
On October 11, Celanese (CE) announced that it entered into a definitive agreement to acquire Next Polymers. However, Celanese didn’t disclose the financial aspects of the acquisition. Celanese expects the deal to be completed by the first quarter of 2019.
In a press release on October 11, LyondellBasell discussed the launch of a new copolymer—Purell EP374M. The new product targets the Healthcare segment by storing medicine and healthcare components.
In a press release on October 11, DowDuPont (DWDP) announced the quarterly dividend. DowDupont said that its board approved a quarterly dividend of $0.38 per share. The quarter dividend implies that there isn’t an increase in the dividend rate. DowDuPont might not revise its dividend rate until the spin-off is completed. DowDuPont released its fifth dividend after the merger of Dow Chemical and DuPont.
Houston Exponential, a local nonprofit aimed at growing Houston’s tech innovation ecosystem, closed a $25 million round for a fund of funds designed to bolster the city's tech scene. The tech nonprofit, which is just under a year old, sees the initiative as a way to draw more innovative startups to the city, a key sector where many city and business leaders admit Houston is lacking, along with those who hold the purse strings — venture capitalists. One of the biggest goals of the fund is to create a multiplier effect — by bringing more venture capital money to the city over time, Houston Exponential believes the eventual total investments in startups will greatly exceed this initial $25 million.
In this article I am going to calculate the intrinsic value of Westlake Chemical Corporation (NYSE:WLK) by taking the foreast future cash flows of the company and discounting them back Read More...
On September 25, Westlake Chemical (WLK) announced that it entered into an agreement to acquire Nakan from OpenGate Capital. Westlake Chemical will pay $265 million in cash. Nakan will likely complement Westlake Chemical’s existing compounding business and improve its global presence.
Moody's Investors Service ("Moody's") upgraded the long-term debt ratings for Westlake Chemical Corporation to Baa2 from Baa3. The upgrade reflects substantial improvement in financial performance, significant reduction in debt in 2018, and anticipated resilience in credit metrics to a potential downturn in the integrated ethylene chain. The ratings outlook is stable.
Westlake Chemical Corporation (WLK) announced today that it has issued an exclusive, binding offer to acquire NAKAN, a global compounding solutions business, from Los Angeles-based private equity firm, OpenGate Capital. NAKAN, headquartered in Reims, France, has eight production facilities, located in China, France, Germany, Italy, Japan, Mexico, Spain and Vietnam, as well as a world-class research facility in France and application laboratory in the United States. NAKAN’s products are used in a wide-variety of applications, including in the automotive, building and construction, and medical industries.
Westlake Chemical Corp. said it made an exclusive, binding offer to buy plastic-compounds business Nakan from private-equity firm OpenGate Capital for $265 million in cash.
On September 18, Celanese announced that it will increase acetate tow prices. The price increase will be effective on November 1 or as the contract allows. The prices will increase across all of the acetate tow grades. The increase will impact Eastern Europe and Asia. Celanese will increase the acetate tow prices by $1.00 per kilogram.
Celanese (CE), a specialty chemical company, has outperformed its selected peers so far in 2018. YTD (year-to-date), Celanese has risen ~6%. Its peer Eastman Chemical (EMN) has risen 5% YTD. LyondellBasell (LYB) and Westlake Chemical (WLK) have fallen 7.4% and 21.2%, respectively, YTD. However, CE has underperformed the S&P 500 (SPY), which has gained 8.6% in the same period.
The latest short interest report on August 31 indicates that Celanese’s (CE) short interest is at the lowest point since the beginning of 2018. According to the latest report, CE’s short interest as a percentage of its outstanding shares is 1.44%.
Over the past six years, data indicate that Celanese (CE) has been generating positive free cash flows. In that period, CE has generated an average free cash flow of $362 million. At the end of the second quarter of 2018, it generated a free cash flow of $562 million.
At the end of the second quarter of 2018, Celanese (CE) reported debt of ~$.3.6 billion. Its debt remained stable at ~$3 billion between 2012 and 2016. However, at the end of 2017, Celanese raised 300 million euros to fund its qualified US pension plans. As a result, CE’s debt is at its highest level in more than six years.
On September 4, LyondellBasell (LYB) and joint venture partner Covestro announced they had initiated a new project at their site in Maasvlakte-Rotterdam in the Netherlands. The new initiative is expected to reduce annual levels of carboxylic acid and reduce carbon-dioxide emissions by 140,000 metric tons. This project is a step towards the Netherlands’ target to reduce carbon-dioxide emissions by 49% by 2030.
On August 30, 2018, a press release from Eastman Chemical said that Tritan will be used by Apollo Brands, a part of Apollo Hospitals Enterprise. The Indian government’s BPA ban related to food contact products has resulted in Apollo selecting Eastman’s Tritan, which is BPA-free. Eastman Tritan has FDA approval and also holds many global certifications.
On August 30, LyondellBasell (LYB) announced that Shandong Chambroad Petrochemicals selected its Hostalen Advanced Cascade Process technology. This technology will be used for 350KTA high-density polyethylene, which will be built in Binzhou City in the Shandong province. However, LyondellBasell didn’t disclose the financial aspects of the deal.