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

Cactus, Inc. (NYSE:WHD) – Equities research analysts at Zacks Research raised their FY2024 earnings per share estimates for 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 estimate 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.

Several other brokerages have also recently commented on WHD. Bank of America boosted their price target on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report on Monday, October 14th. Barclays downgraded Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price objective on the stock. in a report on Monday, November 4th. Finally, Stifel Nicolaus dropped their price target on Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.40.

Cactus Trading Up 2.4 %

Shares of NYSE:WHD opened at $65.89 on Monday. The company has a market capitalization of $5.24 billion, a PE ratio of 23.37, a PEG ratio of 3.04 and a beta of 1.95. Cactus has a 12-month low of $37.58 and a 12-month high of $70.01. The business has a 50 day moving average of $61.44 and a two-hundred day moving average of $57.06. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.04. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The company had revenue of $293.18 million for the quarter, compared to analyst estimates of $287.47 million. During the same quarter in the previous year, the firm earned $0.80 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year.

Cactus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.79%. The ex-dividend date is Monday, December 2nd. Cactus’s payout ratio is 18.44%.

Insiders Place Their Bets

In other Cactus news, COO Steven Bender sold 100,000 shares of the business’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 completion of the sale, the chief operating officer now owns 57,567 shares of the company’s stock, valued at approximately $3,762,003.45. The trade was a 63.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen Tadlock sold 33,500 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 36,357 shares in the company, valued at approximately $2,230,501.95. This represents a 47.96 % decrease in their position. The disclosure for this sale can be found here. 16.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Bessemer Group Inc. increased its holdings in Cactus by 7.2% in the first quarter. Bessemer Group Inc. now owns 248,369 shares of the company’s stock valued at $12,441,000 after buying an additional 16,662 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its position in Cactus by 4.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 203,153 shares of the company’s stock worth $10,176,000 after purchasing an additional 8,833 shares during the period. Vanguard Group Inc. lifted its position in Cactus by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,571,806 shares of the company’s stock worth $329,182,000 after purchasing an additional 53,142 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Cactus by 330.4% during the 1st quarter. Russell Investments Group Ltd. now owns 43,266 shares of the company’s stock valued at $2,167,000 after acquiring an additional 33,214 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Cactus by 69.7% during the 2nd quarter. Rhumbline Advisers now owns 206,982 shares of the company’s stock valued at $10,916,000 after acquiring an additional 84,984 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Company Profile

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.