Zacks Research Estimates Cactus’ FY2024 Earnings (NYSE:WHD)

Cactus, Inc. (NYSE:WHDFree Report) – Analysts at Zacks Research upped their FY2024 earnings estimates for shares of Cactus in a report issued on Wednesday, November 13th. Zacks Research analyst R. Department now expects that the company will post earnings per share of $3.07 for the year, up from their previous forecast of $3.03. The consensus estimate for Cactus’ current full-year earnings is $3.08 per share. Zacks Research also issued estimates for Cactus’ Q4 2024 earnings at $0.72 EPS, Q1 2025 earnings at $0.78 EPS, Q3 2025 earnings at $0.81 EPS, Q4 2025 earnings at $0.86 EPS, FY2025 earnings at $3.24 EPS, Q1 2026 earnings at $0.86 EPS, Q2 2026 earnings at $0.88 EPS and FY2026 earnings at $3.53 EPS.

Cactus (NYSE:WHDGet Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.04. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The business had revenue of $293.18 million during the quarter, compared to analysts’ expectations of $287.47 million. During the same quarter last year, the company earned $0.80 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis.

A number of other research analysts have also commented on the company. Bank of America upped their target price on Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research note on Monday, October 14th. Stifel Nicolaus reduced their price objective on shares of Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, Barclays cut shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price on the stock. in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $56.40.

Get Our Latest Stock Analysis on Cactus

Cactus Price Performance

Shares of WHD stock opened at $64.36 on Monday. Cactus has a 12 month low of $37.58 and a 12 month high of $70.01. The company has a market capitalization of $5.12 billion, a P/E ratio of 22.82, a P/E/G ratio of 3.05 and a beta of 1.95. The stock has a 50 day moving average of $61.24 and a two-hundred day moving average of $56.95. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On Cactus

Large investors have recently modified their holdings of the stock. Quest Partners LLC acquired a new stake in Cactus in the third quarter worth about $34,000. GAMMA Investing LLC grew its position in shares of Cactus by 33.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock worth $71,000 after buying an additional 340 shares during the period. SG Americas Securities LLC acquired a new position in Cactus in the first quarter valued at approximately $115,000. Covestor Ltd boosted its stake in Cactus by 251.8% in the first quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $126,000 after acquiring an additional 1,795 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Cactus by 10.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock worth $188,000 after acquiring an additional 307 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cactus

In other news, CEO Stephen Tadlock sold 33,500 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $61.35, for a total value of $2,055,225.00. Following the completion of the sale, the chief executive officer now directly owns 36,357 shares in the company, valued at approximately $2,230,501.95. This trade represents a 47.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Steven Bender sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $65.35, for a total transaction of $6,535,000.00. Following the transaction, the chief operating officer now owns 57,567 shares in the company, valued at approximately $3,762,003.45. This trade represents a 63.47 % decrease in their position. The disclosure for this sale can be found here. 17.71% of the stock is owned by insiders.

Cactus Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be paid a $0.13 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.52 annualized dividend and a dividend yield of 0.81%. Cactus’s dividend payout ratio is presently 18.44%.

Cactus Company Profile

(Get Free Report)

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers.

Further Reading

Earnings History and Estimates for Cactus (NYSE:WHD)

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