The upcoming report from Western Midstream (WES) is expected to reveal quarterly earnings of $0.91 per share, indicating an increase of 7.1% compared to the year-ago period. Analysts forecast revenues of $1.11 billion, representing an increase of 20% year over year.
The consensus EPS estimate for the quarter has been revised 3.7% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
In light of this perspective, let's dive into the average estimates of certain Western Midstream metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts forecast 'Throughput Attributable to Noncontrolling Interest for Natural Gas Assets per day' to reach . Compared to the present estimate, the company reported in the same quarter last year.
It is projected by analysts that the 'Throughput for natural-gas assets per day - Total throughput' will reach . Compared to the present estimate, the company reported in the same quarter last year.
Based on the collective assessment of analysts, 'Total throughput attributable to WES for natural-gas assets per day' should arrive at . Compared to the current estimate, the company reported in the same quarter of the previous year.
According to the collective judgment of analysts, 'Throughput for natural-gas assets per day - Equity Investment' should come in at . Compared to the current estimate, the company reported in the same quarter of the previous year.
Analysts predict that the 'Throughput for natural-gas assets per day - Delaware Basin' will reach . Compared to the current estimate, the company reported in the same quarter of the previous year.
The average prediction of analysts places 'Throughput for produced-water assets per day - Delaware Basin' at 2,379.05 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 1,216.00 thousands of barrels of oil.
The consensus among analysts is that 'Throughput for crude-oil and NGLs assets per day - Delaware Basin' will reach 253.92 thousands of barrels of oil. Compared to the present estimate, the company reported 260.00 thousands of barrels of oil in the same quarter last year.
The combined assessment of analysts suggests that 'Throughput for crude-oil and NGLs assets per day - DJ Basin' will likely reach 104.18 thousands of barrels of oil. The estimate compares to the year-ago value of 102.00 thousands of barrels of oil.
Analysts expect 'Throughput for crude-oil and NGLs assets per day - Equity investments' to come in at 101.16 thousands of barrels of oil. The estimate compares to the year-ago value of 121.00 thousands of barrels of oil.
Analysts' assessment points toward 'Throughput for crude-oil and NGLs assets per day - Other' reaching 40.24 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 34.00 thousands of barrels of oil.
The consensus estimate for 'Throughput for natural-gas assets per day - DJ Basin' stands at . Compared to the present estimate, the company reported in the same quarter last year.
View all Key Company Metrics for Western Midstream here>>>
Over the past month, Western Midstream shares have recorded returns of +0.5% versus the Zacks S&P 500 composite's -0.3% change. Based on its Zacks Rank #3 (Hold), WES will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).
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