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Western Midstream (WES) Outperforms Broader Market: What You Need to Know
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In the latest trading session, Western Midstream (WES - Free Report) closed at $41.46, marking a +1.1% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.25% for the day. On the other hand, the Dow registered a gain of 0.1%, and the technology-centric Nasdaq increased by 0.47%.
The oil and gas transportation and storage company's stock has dropped by 5.57% in the past month, falling short of the Oils-Energy sector's gain of 7.67% and the S&P 500's loss of 1.88%.
Analysts and investors alike will be keeping a close eye on the performance of Western Midstream in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.78, signifying a 1.27% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.03 billion, reflecting a 11.96% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.43 per share and revenue of $4.21 billion. These totals would mark changes of +15.1% and +9.64%, respectively, from last year.
Any recent changes to analyst estimates for Western Midstream should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.12% lower within the past month. Western Midstream is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Western Midstream has a Forward P/E ratio of 11.97 right now. Its industry sports an average Forward P/E of 14.85, so one might conclude that Western Midstream is trading at a discount comparatively.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Western Midstream (WES) Outperforms Broader Market: What You Need to Know
In the latest trading session, Western Midstream (WES - Free Report) closed at $41.46, marking a +1.1% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.25% for the day. On the other hand, the Dow registered a gain of 0.1%, and the technology-centric Nasdaq increased by 0.47%.
The oil and gas transportation and storage company's stock has dropped by 5.57% in the past month, falling short of the Oils-Energy sector's gain of 7.67% and the S&P 500's loss of 1.88%.
Analysts and investors alike will be keeping a close eye on the performance of Western Midstream in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.78, signifying a 1.27% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.03 billion, reflecting a 11.96% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.43 per share and revenue of $4.21 billion. These totals would mark changes of +15.1% and +9.64%, respectively, from last year.
Any recent changes to analyst estimates for Western Midstream should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.12% lower within the past month. Western Midstream is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Western Midstream has a Forward P/E ratio of 11.97 right now. Its industry sports an average Forward P/E of 14.85, so one might conclude that Western Midstream is trading at a discount comparatively.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.