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Western Midstream (WES) Rises Higher Than Market: Key Facts
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Western Midstream (WES - Free Report) closed the latest trading day at $40.37, indicating a +1.41% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 0.08%. Meanwhile, the Dow experienced a drop of 0.12%, and the technology-dominated Nasdaq saw an increase of 0.07%.
Prior to today's trading, shares of the oil and gas transportation and storage company had gained 0.2% over the past month. This has outpaced the Oils-Energy sector's loss of 9.38% and the S&P 500's loss of 0.21% in that time.
Market participants will be closely following the financial results of Western Midstream in its upcoming release. The company plans to announce its earnings on August 7, 2024. On that day, Western Midstream is projected to report earnings of $0.88 per share, which would represent year-over-year growth of 37.5%. Meanwhile, the latest consensus estimate predicts the revenue to be $883.63 million, indicating a 19.69% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.08 per share and revenue of $3.65 billion, indicating changes of +56.92% and +17.49%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Western Midstream. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.41% lower. Western Midstream is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Western Midstream is holding a Forward P/E ratio of 9.76. This indicates a discount in contrast to its industry's Forward P/E of 10.62.
Meanwhile, WES's PEG ratio is currently 0.86. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Refining and Marketing - Master Limited Partnerships was holding an average PEG ratio of 0.74 at yesterday's closing price.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 20, this industry ranks in the top 8% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Western Midstream (WES) Rises Higher Than Market: Key Facts
Western Midstream (WES - Free Report) closed the latest trading day at $40.37, indicating a +1.41% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 0.08%. Meanwhile, the Dow experienced a drop of 0.12%, and the technology-dominated Nasdaq saw an increase of 0.07%.
Prior to today's trading, shares of the oil and gas transportation and storage company had gained 0.2% over the past month. This has outpaced the Oils-Energy sector's loss of 9.38% and the S&P 500's loss of 0.21% in that time.
Market participants will be closely following the financial results of Western Midstream in its upcoming release. The company plans to announce its earnings on August 7, 2024. On that day, Western Midstream is projected to report earnings of $0.88 per share, which would represent year-over-year growth of 37.5%. Meanwhile, the latest consensus estimate predicts the revenue to be $883.63 million, indicating a 19.69% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.08 per share and revenue of $3.65 billion, indicating changes of +56.92% and +17.49%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Western Midstream. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.41% lower. Western Midstream is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Western Midstream is holding a Forward P/E ratio of 9.76. This indicates a discount in contrast to its industry's Forward P/E of 10.62.
Meanwhile, WES's PEG ratio is currently 0.86. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Refining and Marketing - Master Limited Partnerships was holding an average PEG ratio of 0.74 at yesterday's closing price.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 20, this industry ranks in the top 8% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.