Westlake Chemical Partners LP (NYSE: WLKP) has reported earnings for its second fiscal quarter (ending June 30) of $0.41 versus $0.34 for the same period a year ago — an increase of 21%. However, this result fell short of the consensus estimate of $0.45 by $-0.04. For the latest four quarters through June 30, E.P.S. were $1.61 versus $1.66 for the same period a year ago — a decline of -3%.
Recent Price Action
Westlake Chemical Partners LP (NYSE: WLKP) stock closed at $23.00 on 8/6/24 after an increase of 1.3%. However, below average trading volume at 75% of normal accompanied the advance. The stock is unchanged during the last week and has performed in line with the market over the last nine months.
Current PriceTarget Research Rating
WLKP is expected to continue to be a Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Westlake Chemical Partners has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Westlake Chemical Partners has a neutral Appreciation Score of 55 and a neutral Power Rating of 40, triggering the Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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