In the latest close session, Western Midstream (WES) was down 1.27% at $44.37. The stock's change was less than the S&P 500's daily loss of 0.25%. Meanwhile, the Dow experienced a drop of 0.86%, and the technology-dominated Nasdaq saw an increase of 0.24%.
Shares of the oil and gas transportation and storage company witnessed a loss of 8.27% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 0.62%, and the S&P 500's loss of 0.42%.
Investors will be eagerly watching for the performance of Western Midstream in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.89, indicating a 2.3% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.2 billion, indicating a 25.52% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.66 per share and a revenue of $4.67 billion, indicating changes of +22.82% and +21.47%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Western Midstream. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.48% higher within the past month. As of now, Western Midstream holds a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Western Midstream is at present trading with a Forward P/E ratio of 12.29. This denotes a premium relative to the industry average Forward P/E of 10.73.
It is also worth noting that WES currently has a PEG ratio of 1.32. 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. By the end of yesterday's trading, the Oil and Gas - Refining and Marketing - Master Limited Partnerships industry had an average PEG ratio of 1.32.
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 7, this industry ranks in the top 3% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Western Midstream Partners, LP (WES): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).