Western Midstream (WES) closed at $40.39 in the latest trading session, marking a +1.94% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.01%. Elsewhere, the Dow saw an upswing of 0.55%, while the tech-heavy Nasdaq depreciated by 0.44%.
The stock of oil and gas transportation and storage company has risen by 2.03% in the past month, leading the Oils-Energy sector's loss of 3.12% and the S&P 500's gain of 0.86%.
The upcoming earnings release of Western Midstream will be of great interest to investors. In that report, analysts expect Western Midstream to post earnings of $0.98 per share. This would mark year-over-year growth of 15.29%. Alongside, our most recent consensus estimate is anticipating revenue of $1.12 billion, indicating a 20.81% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.52 per share and a revenue of $3.93 billion, indicating changes of -12.44% and 0%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Western Midstream. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Western Midstream possesses a Zacks Rank of #3 (Hold).
Investors should also note Western Midstream's current valuation metrics, including its Forward P/E ratio of 10.71. This valuation marks a discount compared to its industry average Forward P/E of 15.58.
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 37, finds itself in the top 16% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow WES in the coming trading sessions, be sure to utilize Zacks.com.
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This article originally published on Zacks Investment Research (zacks.com).
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