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Western Midstream (WES) Exceeds Market Returns: Some Facts to Consider
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Western Midstream (WES - Free Report) ended the recent trading session at $40.14, demonstrating a +1.7% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.14% for the day. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw an increase of 0.27%.
Shares of the oil and gas transportation and storage company have appreciated by 1.65% over the course of the past month, underperforming the Oils-Energy sector's gain of 2.89%, and the S&P 500's gain of 3.97%.
The investment community will be paying close attention to the earnings performance of Western Midstream in its upcoming release. The company is expected to report EPS of $0.83, down 14.43% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $920.79 million, indicating a 1.67% growth compared to the corresponding quarter of the prior year.
WES's full-year Zacks Consensus Estimates are calling for earnings of $3.4 per share and revenue of $3.77 billion. These results would represent year-over-year changes of -15.42% and +4.44%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Western Midstream. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.1% higher. Right now, Western Midstream possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Western Midstream is currently being traded at a Forward P/E ratio of 11.61. This valuation marks a discount compared to its industry average Forward P/E of 20.31.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 162, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Western Midstream (WES) Exceeds Market Returns: Some Facts to Consider
Western Midstream (WES - Free Report) ended the recent trading session at $40.14, demonstrating a +1.7% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.14% for the day. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw an increase of 0.27%.
Shares of the oil and gas transportation and storage company have appreciated by 1.65% over the course of the past month, underperforming the Oils-Energy sector's gain of 2.89%, and the S&P 500's gain of 3.97%.
The investment community will be paying close attention to the earnings performance of Western Midstream in its upcoming release. The company is expected to report EPS of $0.83, down 14.43% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $920.79 million, indicating a 1.67% growth compared to the corresponding quarter of the prior year.
WES's full-year Zacks Consensus Estimates are calling for earnings of $3.4 per share and revenue of $3.77 billion. These results would represent year-over-year changes of -15.42% and +4.44%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Western Midstream. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.1% higher. Right now, Western Midstream possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Western Midstream is currently being traded at a Forward P/E ratio of 11.61. This valuation marks a discount compared to its industry average Forward P/E of 20.31.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 162, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.