Westlake Chemical Corporation (WLK - Free Report) is a vertically integrated international manufacturer and supplier of petrochemicals, polymers and fabricated products that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on WLK’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Westlake Chemical could be a solid choice for investors.
Current Quarter Estimates for WLK
In the past 30 days, three estimates have gone higher for Westlake Chemical while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from $1.44 a share 30 days ago, to $1.62 today, a move of 12.5%.
Current Year Estimates for WLK
Meanwhile, Westlake Chemical’s current year figures are also looking quite promising, with five estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $4.84 per share 30 days ago to $5.24 per share today, an increase of 8.3%.
Westlake Chemical Corporation Price and Consensus
The stock has also started to move higher lately, adding 11% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>