In the latest market close, Western Midstream (WES) reached $34.99, with a -1.24% movement compared to the previous day. This change was narrower than the S&P 500's 1.57% loss on the day. Meanwhile, the Dow lost 0.84%, and the Nasdaq, a tech-heavy index, lost 2.15%.
Prior to today's trading, shares of the oil and gas transportation and storage company had lost 12.5% over the past month. This has lagged the Oils-Energy sector's loss of 9.78% and the S&P 500's loss of 12.16% in that time.
Investors will be eagerly watching for the performance of Western Midstream in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.84, reflecting a 42.86% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $945.11 million, reflecting a 6.46% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.42 per share and revenue of $3.79 billion, which would represent changes of -14.93% and +5.21%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Western Midstream. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.29% increase. Western Midstream is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Western Midstream is presently trading at a Forward P/E ratio of 10.36. This denotes a discount relative to the industry's average Forward P/E of 20.15.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 167, finds itself in the bottom 33% echelons 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Western Midstream Partners, LP (WES): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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