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Western Midstream (WES) Ascends While Market Falls: Some Facts to Note
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In the latest market close, Western Midstream (WES - Free Report) reached $38.51, with a +0.65% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.93%. Elsewhere, the Dow lost 0.41%, while the tech-heavy Nasdaq lost 1.53%.
The oil and gas transportation and storage company's stock has dropped by 0.83% in the past month, exceeding the Oils-Energy sector's loss of 2.51% and lagging the S&P 500's gain of 2.17%.
Investors will be eagerly watching for the performance of Western Midstream in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.85, marking a 21.43% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $916.7 million, reflecting a 18.13% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.16 per share and revenue of $3.69 billion, which would represent changes of +60% and +18.88%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Western Midstream. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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.
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 past month, the Zacks Consensus EPS estimate has remained steady. 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 9.21. This signifies a discount in comparison to the average Forward P/E of 19.14 for its industry.
One should further note that WES currently holds a PEG ratio of 0.72. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Oil and Gas - Refining and Marketing - Master Limited Partnerships industry held an average PEG ratio of 0.95.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 195, finds itself in the bottom 23% echelons of all 250+ industries.
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.
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) Ascends While Market Falls: Some Facts to Note
In the latest market close, Western Midstream (WES - Free Report) reached $38.51, with a +0.65% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.93%. Elsewhere, the Dow lost 0.41%, while the tech-heavy Nasdaq lost 1.53%.
The oil and gas transportation and storage company's stock has dropped by 0.83% in the past month, exceeding the Oils-Energy sector's loss of 2.51% and lagging the S&P 500's gain of 2.17%.
Investors will be eagerly watching for the performance of Western Midstream in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.85, marking a 21.43% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $916.7 million, reflecting a 18.13% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.16 per share and revenue of $3.69 billion, which would represent changes of +60% and +18.88%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Western Midstream. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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.
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 past month, the Zacks Consensus EPS estimate has remained steady. 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 9.21. This signifies a discount in comparison to the average Forward P/E of 19.14 for its industry.
One should further note that WES currently holds a PEG ratio of 0.72. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Oil and Gas - Refining and Marketing - Master Limited Partnerships industry held an average PEG ratio of 0.95.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 195, finds itself in the bottom 23% echelons of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.