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Western Midstream (WES) Ascends While Market Falls: Some Facts to Note
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Western Midstream (WES - Free Report) closed at $42.74 in the latest trading session, marking a +1.74% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 1.74% for the day. On the other hand, the Dow registered a loss of 1.01%, and the technology-centric Nasdaq decreased by 2.38%.
Coming into today, shares of the oil and gas transportation and storage company had gained 2.51% in the past month. In that same time, the Oils-Energy sector gained 10.19%, while the S&P 500 lost 4.99%.
The investment community will be closely monitoring the performance of Western Midstream in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.73, reflecting a 7.59% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $994.57 million, up 8.44% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.23 per share and a revenue of $4.06 billion, indicating changes of +8.39% and +5.61%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Western Midstream. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Over the past month, the Zacks Consensus EPS estimate has shifted 3.96% downward. At present, Western Midstream boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Western Midstream is holding a Forward P/E ratio of 12.99. For comparison, its industry has an average Forward P/E of 14.14, which means Western Midstream is trading at a discount to the group.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 98, positioning it in the top 40% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Western Midstream (WES) Ascends While Market Falls: Some Facts to Note
Western Midstream (WES - Free Report) closed at $42.74 in the latest trading session, marking a +1.74% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 1.74% for the day. On the other hand, the Dow registered a loss of 1.01%, and the technology-centric Nasdaq decreased by 2.38%.
Coming into today, shares of the oil and gas transportation and storage company had gained 2.51% in the past month. In that same time, the Oils-Energy sector gained 10.19%, while the S&P 500 lost 4.99%.
The investment community will be closely monitoring the performance of Western Midstream in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.73, reflecting a 7.59% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $994.57 million, up 8.44% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.23 per share and a revenue of $4.06 billion, indicating changes of +8.39% and +5.61%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Western Midstream. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Over the past month, the Zacks Consensus EPS estimate has shifted 3.96% downward. At present, Western Midstream boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Western Midstream is holding a Forward P/E ratio of 12.99. For comparison, its industry has an average Forward P/E of 14.14, which means Western Midstream is trading at a discount to the group.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 98, positioning it in the top 40% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.