The most recent trading session ended with Western Midstream (WES) standing at $35.89, reflecting a -1.7% shift from the previouse trading day's closing. This change was narrower than the S&P 500's daily loss of 3.46%. Elsewhere, the Dow lost 2.5%, while the tech-heavy Nasdaq lost 4.31%.
Coming into today, shares of the oil and gas transportation and storage company had lost 9.61% in the past month. In that same time, the Oils-Energy sector lost 5.47%, while the S&P 500 lost 5.27%.
Market participants will be closely following the financial results of Western Midstream in its upcoming release. The company's earnings per share (EPS) are projected to be $0.84, reflecting a 42.86% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $945.11 million, up 6.46% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.42 per share and revenue of $3.79 billion, indicating changes of -14.93% and +5.21%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Western Midstream. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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 shifted 0.29% upward. Western Midstream presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Western Midstream has a Forward P/E ratio of 10.24 right now. Its industry sports an average Forward P/E of 19.45, so one might conclude that Western Midstream is trading at a discount comparatively.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 171, this industry ranks in the bottom 32% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
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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