Wall Street analysts expect Western Midstream (WES) to post quarterly earnings of $0.91 per share in its upcoming report, which indicates a year-over-year increase of 7.1%. Revenues are expected to be $1.11 billion, up 20% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 3.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Western Midstream metrics that are routinely monitored and predicted by Wall Street analysts.
According to the collective judgment of analysts, 'Throughput Attributable to Noncontrolling Interest for Natural Gas Assets per day' should come in at . The estimate compares to the year-ago value of .
Analysts forecast 'Throughput for natural-gas assets per day - Total throughput' to reach . Compared to the present estimate, the company reported in the same quarter last year.
The combined assessment of analysts suggests that 'Total throughput attributable to WES for natural-gas assets per day' will likely reach . Compared to the current estimate, the company reported in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Throughput for natural-gas assets per day - Equity Investment' should arrive at . Compared to the current estimate, the company reported in the same quarter of the previous year.
The consensus estimate for 'Throughput for natural-gas assets per day - Delaware Basin' stands at . The estimate compares to the year-ago value of .
Analysts expect 'Throughput for produced-water assets per day - Delaware Basin' to come in at 2,379.05 thousands of barrels of oil. Compared to the current estimate, the company reported 1,216.00 thousands of barrels of oil in the same quarter of the previous year.
Analysts predict that the 'Throughput for crude-oil and NGLs assets per day - Delaware Basin' will reach 253.92 thousands of barrels of oil. The estimate compares to the year-ago value of 260.00 thousands of barrels of oil.
Analysts' assessment points toward 'Throughput for crude-oil and NGLs assets per day - DJ Basin' reaching 104.18 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 102.00 thousands of barrels of oil.
It is projected by analysts that the 'Throughput for crude-oil and NGLs assets per day - Equity investments' will reach 101.16 thousands of barrels of oil. Compared to the present estimate, the company reported 121.00 thousands of barrels of oil in the same quarter last year.
The consensus among analysts is that 'Throughput for crude-oil and NGLs assets per day - Other' will reach 40.24 thousands of barrels of oil. The estimate compares to the year-ago value of 34.00 thousands of barrels of oil.
The collective assessment of analysts points to an estimated 'Throughput for natural-gas assets per day - DJ Basin' of . Compared to the current estimate, the company reported in the same quarter of the previous year.
View all Key Company Metrics for Western Midstream here>>>
Shares of Western Midstream have demonstrated returns of +4.4% over the past month compared to the Zacks S&P 500 composite's -1.7% change. With a Zacks Rank #3 (Hold), WES is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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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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