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Western Midstream (WES) Stock Sinks As Market Gains: Here's Why
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Western Midstream (WES - Free Report) closed the most recent trading day at $39.39, moving -2.67% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.14%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 0.38%.
The oil and gas transportation and storage company's shares have seen an increase of 4.98% over the last month, surpassing the Oils-Energy sector's loss of 0.85% and falling behind the S&P 500's gain of 5.35%.
The investment community will be paying close attention to the earnings performance of Western Midstream in its upcoming release. The company's earnings per share (EPS) are projected to be $0.82, reflecting a 15.46% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $941.15 million, reflecting a 3.92% rise from the equivalent quarter last year.
WES's full-year Zacks Consensus Estimates are calling for earnings of $3.33 per share and revenue of $3.8 billion. These results would represent year-over-year changes of -17.16% and +5.32%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Western Midstream. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Western Midstream presently features a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Western Midstream has a Forward P/E ratio of 12.16 right now. This valuation marks a discount compared to its industry average Forward P/E of 20.97.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 177, placing it within the bottom 29% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Western Midstream (WES) Stock Sinks As Market Gains: Here's Why
Western Midstream (WES - Free Report) closed the most recent trading day at $39.39, moving -2.67% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.14%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 0.38%.
The oil and gas transportation and storage company's shares have seen an increase of 4.98% over the last month, surpassing the Oils-Energy sector's loss of 0.85% and falling behind the S&P 500's gain of 5.35%.
The investment community will be paying close attention to the earnings performance of Western Midstream in its upcoming release. The company's earnings per share (EPS) are projected to be $0.82, reflecting a 15.46% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $941.15 million, reflecting a 3.92% rise from the equivalent quarter last year.
WES's full-year Zacks Consensus Estimates are calling for earnings of $3.33 per share and revenue of $3.8 billion. These results would represent year-over-year changes of -17.16% and +5.32%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Western Midstream. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Western Midstream presently features a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Western Midstream has a Forward P/E ratio of 12.16 right now. This valuation marks a discount compared to its industry average Forward P/E of 20.97.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 177, placing it within the bottom 29% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.