Western Midstream (WES – Free Report) closed at $39.13 in the latest trading session, marking a +0.28% move from the prior day. The stock’s performance was ahead of the S&P 500’s daily loss of 1.11%. Meanwhile, the Dow experienced a drop of 0.77%, and the technology-dominated Nasdaq saw a decrease of 1.49%.
Shares of the oil and gas transportation and storage company have depreciated by 1.54% over the course of the past month, outperforming the Oils-Energy sector’s loss of 8.07% and lagging the S&P 500’s gain of 0.4%.
The investment community will be closely monitoring the performance of Western Midstream in its forthcoming earnings report. On that day, Western Midstream is projected to report earnings of $0.86 per share, which would represent year-over-year growth of 16.22%. At the same time, our most recent consensus estimate is projecting a revenue of $906.72 million, reflecting a 5.65% rise from the equivalent quarter last year.
WES’s full-year Zacks Consensus Estimates are calling for earnings of $4.03 per share and revenue of $3.58 billion. These results would represent year-over-year changes of +55% and +15.35%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Western Midstream. Recent revisions tend to reflect the latest 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 shows that these estimate changes are directly correlated with near-term stock prices. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.53% lower. Western Midstream is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Western Midstream is holding a Forward P/E ratio of 9.68. This signifies a discount in comparison to the average Forward P/E of 25.5 for its industry.
It’s also important to note that WES currently trades at a PEG ratio of 1.06. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. The Oil and Gas – Refining and Marketing – Master Limited Partnerships industry currently had an average PEG ratio of 0.88 as of yesterday’s close.
The Oil and Gas – Refining and Marketing – Master Limited Partnerships industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 222, placing it within the bottom 12% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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