By early afternoon, shares had spiked 11.6% to $71.65.
The company said one of its wholly-owned subsidiaries, Westlake Chemical Partners, had filed with the SEC in relation to its proposed IPO of common units.
- WLK's revenue growth has slightly outpaced the industry average of 10.8%. Since the same quarter one year prior, revenues rose by 18.8%. Growth in the company's revenue appears to have helped boost the earnings per share.
- The current debt-to-equity ratio, 0.32, is low and is below the industry average, implying that there has been successful management of debt levels. Along with this, the company maintains a quick ratio of 2.79, which clearly demonstrates the ability to cover short-term cash needs.
- The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. When compared to other companies in the Chemicals industry and the overall market, WESTLAKE CHEMICAL CORP's return on equity exceeds that of the industry average and significantly exceeds that of the S&P 500.
- Powered by its strong earnings growth of 78.87% and other important driving factors, this stock has surged by 52.70% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, WLK should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
- You can view the full analysis from the report here: WLK Ratings Report
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