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Western Midstream (WES) Stock Sinks As Market Gains: Here's Why
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Western Midstream (WES - Free Report) ended the recent trading session at $42.96, demonstrating a -1.65% change from the preceding day's closing price. This change lagged the S&P 500's 1.09% gain on the day. Elsewhere, the Dow saw an upswing of 0.14%, while the tech-heavy Nasdaq appreciated by 1.91%.
Heading into today, shares of the oil and gas transportation and storage company had lost 5.08% over the past month, outpacing the Oils-Energy sector's loss of 7.57% and lagging the S&P 500's gain of 0.29%.
Analysts and investors alike will be keeping a close eye on the performance of Western Midstream in its upcoming earnings disclosure. In that report, analysts expect Western Midstream to post earnings of $0.85 per share. This would mark a year-over-year decline of 2.3%. Alongside, our most recent consensus estimate is anticipating revenue of $1.11 billion, indicating a 17.75% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.44 per share and a revenue of $4.45 billion, signifying shifts of +15.44% and +15.76%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Western Midstream. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.26% higher. Western Midstream is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Western Midstream is currently trading at a Forward P/E ratio of 12.69. This represents no noticeable deviation compared to its industry average Forward P/E of 12.69.
We can additionally observe that WES currently boasts a PEG ratio of 1.84. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Oil and Gas - Refining and Marketing - Master Limited Partnerships industry stood at 1.59 at the close of the market yesterday.
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 26, placing it within the top 11% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
View the Zacks #1 Rank List
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Western Midstream (WES) Stock Sinks As Market Gains: Here's Why
Western Midstream (WES - Free Report) ended the recent trading session at $42.96, demonstrating a -1.65% change from the preceding day's closing price. This change lagged the S&P 500's 1.09% gain on the day. Elsewhere, the Dow saw an upswing of 0.14%, while the tech-heavy Nasdaq appreciated by 1.91%.
Heading into today, shares of the oil and gas transportation and storage company had lost 5.08% over the past month, outpacing the Oils-Energy sector's loss of 7.57% and lagging the S&P 500's gain of 0.29%.
Analysts and investors alike will be keeping a close eye on the performance of Western Midstream in its upcoming earnings disclosure. In that report, analysts expect Western Midstream to post earnings of $0.85 per share. This would mark a year-over-year decline of 2.3%. Alongside, our most recent consensus estimate is anticipating revenue of $1.11 billion, indicating a 17.75% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.44 per share and a revenue of $4.45 billion, signifying shifts of +15.44% and +15.76%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Western Midstream. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.26% higher. Western Midstream is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Western Midstream is currently trading at a Forward P/E ratio of 12.69. This represents no noticeable deviation compared to its industry average Forward P/E of 12.69.
We can additionally observe that WES currently boasts a PEG ratio of 1.84. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Oil and Gas - Refining and Marketing - Master Limited Partnerships industry stood at 1.59 at the close of the market yesterday.
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 26, placing it within the top 11% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.