FY2024 Earnings Estimate for Cactus Issued By Zacks Research

Cactus, Inc. (NYSE:WHD) – Research analysts at Zacks Research raised their FY2024 earnings estimates for shares of Cactus in a note issued to investors on Wednesday, November 13th. Zacks Research analyst R. Department now anticipates that the company will earn $3.07 per share for the year, up from their prior 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.

A number of other brokerages have also issued reports on WHD. Stifel Nicolaus cut their target price on Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. 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, Bank of America raised their target price on shares of Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $56.40.

Cactus Stock Down 1.9 %

NYSE WHD opened at $64.36 on Monday. The company has a market capitalization of $5.12 billion, a P/E ratio of 22.82, a PEG ratio of 3.05 and a beta of 1.95. Cactus has a 12 month low of $37.58 and a 12 month high of $70.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The company’s 50 day simple moving average is $61.24 and its 200 day simple moving average is $56.95.

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

Hedge Funds Weigh In On Cactus

A number of hedge funds have recently added to or reduced their stakes in WHD. Quest Partners LLC bought a new stake in Cactus in the third quarter worth $34,000. GAMMA Investing LLC increased its holdings in shares of Cactus by 33.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock valued at $71,000 after acquiring an additional 340 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Cactus in the 1st quarter valued at approximately $115,000. Covestor Ltd lifted its holdings in Cactus by 251.8% in the 1st quarter. Covestor Ltd now owns 2,508 shares of the company’s stock worth $126,000 after purchasing an additional 1,795 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Cactus by 10.8% during the third quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock worth $188,000 after purchasing an additional 307 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.

Insider Buying and Selling at Cactus

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

Cactus Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 0.81%. Cactus’s payout ratio is presently 18.44%.

About Cactus

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.