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Western Midstream (WES) Outperforms Broader Market: What You Need to Know
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In the latest trading session, Western Midstream (WES - Free Report) closed at $42.74, marking a +1.62% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 1.08%. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, added 1.58%.
Prior to today's trading, shares of the oil and gas transportation and storage company had gained 9.39% over the past month. This has outpaced the Oils-Energy sector's loss of 9.19% and the S&P 500's gain of 0.43% in that time.
The investment community will be paying close attention to the earnings performance of Western Midstream in its upcoming release. The company is slated to reveal its earnings on August 7, 2024. The company's upcoming EPS is projected at $0.89, signifying a 39.06% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $883.63 million, up 19.69% from the prior-year quarter.
WES's full-year Zacks Consensus Estimates are calling for earnings of $4.11 per share and revenue of $3.65 billion. These results would represent year-over-year changes of +58.08% and +17.49%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Western Midstream. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.28% higher. Western Midstream is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Western Midstream's current valuation metrics, including its Forward P/E ratio of 10.24. This expresses a discount compared to the average Forward P/E of 10.8 of its industry.
We can additionally observe that WES currently boasts a PEG ratio of 0.75. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Refining and Marketing - Master Limited Partnerships was holding an average PEG ratio of 0.77 at yesterday's closing price.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 12, putting it in the top 5% 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 (WES) Outperforms Broader Market: What You Need to Know
In the latest trading session, Western Midstream (WES - Free Report) closed at $42.74, marking a +1.62% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 1.08%. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, added 1.58%.
Prior to today's trading, shares of the oil and gas transportation and storage company had gained 9.39% over the past month. This has outpaced the Oils-Energy sector's loss of 9.19% and the S&P 500's gain of 0.43% in that time.
The investment community will be paying close attention to the earnings performance of Western Midstream in its upcoming release. The company is slated to reveal its earnings on August 7, 2024. The company's upcoming EPS is projected at $0.89, signifying a 39.06% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $883.63 million, up 19.69% from the prior-year quarter.
WES's full-year Zacks Consensus Estimates are calling for earnings of $4.11 per share and revenue of $3.65 billion. These results would represent year-over-year changes of +58.08% and +17.49%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Western Midstream. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.28% higher. Western Midstream is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Western Midstream's current valuation metrics, including its Forward P/E ratio of 10.24. This expresses a discount compared to the average Forward P/E of 10.8 of its industry.
We can additionally observe that WES currently boasts a PEG ratio of 0.75. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Refining and Marketing - Master Limited Partnerships was holding an average PEG ratio of 0.77 at yesterday's closing price.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 12, putting it in the top 5% 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.