Brokers Issue Forecasts for Cactus’ Q4 Earnings (NYSE:WHD)

Cactus, Inc. (NYSE:WHD) – Investment analysts at Zacks Research lifted their Q4 2024 earnings estimates for shares of Cactus in a research note issued to investors on Monday, January 6th. Zacks Research analyst R. Department now anticipates that the company will earn $0.73 per share for the quarter, up from their prior forecast of $0.72. The consensus estimate for Cactus’ current full-year earnings is $3.08 per share. Zacks Research also issued estimates for Cactus’ FY2025 earnings at $3.25 EPS.

Cactus (NYSE:WHD) last released its quarterly 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. The company had revenue of $293.18 million during the quarter, compared to analysts’ expectations of $287.47 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.80 earnings per share.

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

Cactus Stock Down 0.8 %

WHD stock opened at $59.42 on Thursday. The business has a 50-day moving average of $63.21 and a 200-day moving average of $60.08. Cactus has a fifty-two week low of $37.58 and a fifty-two week high of $70.01. The stock has a market capitalization of $4.73 billion, a P/E ratio of 21.07, a P/E/G ratio of 2.98 and a beta of 1.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd were issued a $0.13 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.52 annualized dividend and a dividend yield of 0.88%. Cactus’s dividend payout ratio is currently 18.44%.

Insider Activity

In other news, CEO Stephen Tadlock sold 33,500 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $61.35, for a total value of $2,055,225.00. Following the completion of the transaction, the chief executive officer now directly owns 36,357 shares in the company, valued at approximately $2,230,501.95. The trade was a 47.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce M. Rothstein sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total value of $326,100.00. Following the transaction, the director now directly owns 12,177 shares of the company’s stock, valued at $794,183.94. This trade represents a 29.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 138,500 shares of company stock valued at $8,916,325 over the last ninety days. 17.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cactus

Hedge funds have recently made changes to their positions in the stock. Quest Partners LLC bought a new position in Cactus in the 3rd quarter valued at approximately $34,000. Versant Capital Management Inc raised its stake in shares of Cactus by 165.4% during the fourth quarter. Versant Capital Management Inc now owns 576 shares of the company’s stock valued at $34,000 after acquiring an additional 359 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Cactus by 81.5% during the third quarter. GAMMA Investing LLC now owns 2,441 shares of the company’s stock valued at $146,000 after acquiring an additional 1,096 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Cactus during the third quarter worth $177,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Cactus by 10.8% in 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 last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

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.