Western Midstream (WES Quick QuoteWES - Free Report) closed the most recent trading day at $41.78, moving -2.25% from the previous trading session. This change lagged the S&P 500's 1.67% loss on the day. On the other hand, the Dow registered a loss of 1.73%, and the technology-centric Nasdaq decreased by 2.15%.

Shares of the oil and gas transportation and storage company witnessed a gain of 3.81% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 10.72%, and outperforming the S&P 500's loss of 6.15%.

Investors will be eagerly watching for the performance of Western Midstream in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.73, indicating a 7.59% decline compared to the equivalent 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.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.23 per share and a revenue of $4.06 billion, representing changes of +8.39% and +5.61%, respectively, from the prior year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Western Midstream. These recent revisions tend to reflect the evolving nature of short-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 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.96% lower. Western Midstream presently features a Zacks Rank of #3 (Hold).

In terms of valuation, Western Midstream is presently being traded at a Forward P/E ratio of 13.22. This denotes a discount relative to the industry average Forward P/E of 14.11.

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 50, putting it in the top 21% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.