Western Midstream (WES) ended the recent trading session at $38.55, demonstrating a +1.15% change from the preceding day's closing price. This change outpaced the S&P 500's 0.22% loss on the day. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw a decrease of 0.51%.
Shares of the oil and gas transportation and storage company witnessed a loss of 1.5% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 5.72%, and the S&P 500's gain of 0.45%.
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 $0.83, reflecting a 14.43% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $936.01 million, showing a 3.35% escalation compared to the year-ago quarter.
WES's full-year Zacks Consensus Estimates are calling for earnings of $3.4 per share and revenue of $3.82 billion. These results would represent year-over-year changes of -15.42% and +5.88%, respectively.
Any recent changes to analyst estimates for Western Midstream should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Western Midstream possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Western Midstream is presently trading at a Forward P/E ratio of 11.23. This denotes a discount relative to the industry average Forward P/E of 20.56.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 193, positioning it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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