Western Midstream (WES – Free Report) closed the most recent trading day at $41.61, moving +1.41% from the previous trading session. The stock’s change was more than the S&P 500’s daily gain of 0.67%. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 0.87%.
The the stock of oil and gas transportation and storage company has risen by 5.99% in the past month, leading the Oils-Energy sector’s gain of 3.06% and the S&P 500’s loss of 5.28%.
Market participants will be closely following the financial results of Western Midstream in its upcoming release. In that report, analysts expect Western Midstream to post earnings of $0.84 per share. This would mark a year-over-year decline of 42.86%. Our most recent consensus estimate is calling for quarterly revenue of $945.11 million, up 6.46% from the year-ago period.
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.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Western Midstream. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts’ favorable outlook on the company’s business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.01% lower. At present, Western Midstream boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Western Midstream is presently being traded at a Forward P/E ratio of 12. This expresses a discount compared to the average Forward P/E of 24.15 of its industry.
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 83, positioning it in the top 34% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.
Financial Market Newsflash
No financial news published today. Check back later.
