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Western Midstream (WES) Outperforms Broader Market: What You Need to Know
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In the latest close session, Western Midstream (WES - Free Report) was up +1.01% at $41.16. The stock exceeded the S&P 500, which registered a gain of 0.11% for the day. On the other hand, the Dow registered a loss of 0.13%, and the technology-centric Nasdaq increased by 0.18%.
The oil and gas transportation and storage company's stock has dropped by 3.62% in the past month, falling short of the Oils-Energy sector's gain of 6.63% and outpacing the S&P 500's loss of 4.28%.
Market participants will be closely following the financial results of Western Midstream in its upcoming release. The company is expected to report EPS of $0.73, down 7.59% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $994.57 million, indicating a 8.44% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.24 per share and revenue of $4.07 billion. These totals would mark changes of +8.72% and +5.78%, respectively, from last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.81% lower. Western Midstream currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Western Midstream is holding a Forward P/E ratio of 12.58. This valuation marks a discount compared to its industry average Forward P/E of 13.76.
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 49, placing it within the top 21% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Western Midstream (WES) Outperforms Broader Market: What You Need to Know
In the latest close session, Western Midstream (WES - Free Report) was up +1.01% at $41.16. The stock exceeded the S&P 500, which registered a gain of 0.11% for the day. On the other hand, the Dow registered a loss of 0.13%, and the technology-centric Nasdaq increased by 0.18%.
The oil and gas transportation and storage company's stock has dropped by 3.62% in the past month, falling short of the Oils-Energy sector's gain of 6.63% and outpacing the S&P 500's loss of 4.28%.
Market participants will be closely following the financial results of Western Midstream in its upcoming release. The company is expected to report EPS of $0.73, down 7.59% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $994.57 million, indicating a 8.44% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.24 per share and revenue of $4.07 billion. These totals would mark changes of +8.72% and +5.78%, respectively, from last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.81% lower. Western Midstream currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Western Midstream is holding a Forward P/E ratio of 12.58. This valuation marks a discount compared to its industry average Forward P/E of 13.76.
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 49, placing it within the top 21% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.