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Western Midstream (WES) Stock Declines While Market Improves: Some Information for Investors
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In the latest market close, Western Midstream (WES - Free Report) reached $37.98, with a -1.17% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.27%. Elsewhere, the Dow gained 0.65%, while the tech-heavy Nasdaq added 0.26%.
Prior to today's trading, shares of the oil and gas transportation and storage company had gained 0.55% over the past month. This has outpaced the Oils-Energy sector's loss of 9.27% and lagged the S&P 500's gain of 2% 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 November 6, 2024. It is anticipated that the company will report an EPS of $0.82, marking a 17.14% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $915.33 million, indicating a 17.95% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.14 per share and a revenue of $3.69 billion, signifying shifts of +59.23% and +18.77%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Western Midstream. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.48% downward. Western Midstream presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Western Midstream is currently exchanging hands at a Forward P/E ratio of 9.29. This denotes a discount relative to the industry's average Forward P/E of 18.48.
One should further note that WES currently holds a PEG ratio of 0.72. 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 industry currently had an average PEG ratio of 1.01 as of yesterday's close.
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 100, putting it in the top 40% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Western Midstream (WES) Stock Declines While Market Improves: Some Information for Investors
In the latest market close, Western Midstream (WES - Free Report) reached $37.98, with a -1.17% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.27%. Elsewhere, the Dow gained 0.65%, while the tech-heavy Nasdaq added 0.26%.
Prior to today's trading, shares of the oil and gas transportation and storage company had gained 0.55% over the past month. This has outpaced the Oils-Energy sector's loss of 9.27% and lagged the S&P 500's gain of 2% 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 November 6, 2024. It is anticipated that the company will report an EPS of $0.82, marking a 17.14% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $915.33 million, indicating a 17.95% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.14 per share and a revenue of $3.69 billion, signifying shifts of +59.23% and +18.77%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Western Midstream. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.48% downward. Western Midstream presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Western Midstream is currently exchanging hands at a Forward P/E ratio of 9.29. This denotes a discount relative to the industry's average Forward P/E of 18.48.
One should further note that WES currently holds a PEG ratio of 0.72. 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 industry currently had an average PEG ratio of 1.01 as of yesterday's close.
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 100, putting it in the top 40% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.