Cactus, Inc. (NYSE:WHD) Expected to Earn Q4 2024 Earnings of $0.73 Per Share

Cactus, Inc. (NYSE:WHD) – Investment analysts at Zacks Research boosted their Q4 2024 earnings per share estimates for shares of Cactus in a note issued to investors on Wednesday, September 18th. Zacks Research analyst R. Department now forecasts that the company will earn $0.73 per share for the quarter, up from their previous forecast of $0.72. The consensus estimate for Cactus’ current full-year earnings is $3.03 per share. Zacks Research also issued estimates for Cactus’ Q1 2025 earnings at $0.80 EPS, FY2025 earnings at $3.29 EPS and Q1 2026 earnings at $0.81 EPS.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The firm had revenue of $290.39 million during the quarter, compared to analyst estimates of $276.76 million. During the same quarter in the previous year, the business earned $0.84 earnings per share. Cactus’s quarterly revenue was down 5.0% on a year-over-year basis.

WHD has been the topic of several other research reports. Johnson Rice cut Cactus from a “buy” rating to an “accumulate” rating in a research report on Friday, May 31st. Piper Sandler reduced their target price on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Barclays raised their price objective on Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, Citigroup boosted their price target on Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.00.

Cactus Price Performance

NYSE WHD opened at $62.79 on Monday. The company has a market cap of $4.99 billion, a PE ratio of 25.01, a P/E/G ratio of 2.15 and a beta of 1.95. The firm’s 50 day moving average price is $59.04 and its 200-day moving average price is $53.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.59 and a current ratio of 3.75. Cactus has a 52-week low of $37.58 and a 52-week high of $64.96.

Hedge Funds Weigh In On Cactus

A number of hedge funds have recently bought and sold shares of the business. Principal Securities Inc. purchased a new stake in shares of Cactus during the fourth quarter worth about $30,000. GAMMA Investing LLC lifted its holdings in Cactus by 27.5% in the 1st quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock valued at $50,000 after purchasing an additional 217 shares in the last quarter. TFO Wealth Partners LLC grew its holdings in shares of Cactus by 221,300.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,214 shares of the company’s stock worth $101,000 after buying an additional 2,213 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Cactus in the first quarter worth about $115,000. Finally, Covestor Ltd grew its stake in Cactus by 251.8% during the 1st quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $126,000 after acquiring an additional 1,795 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.83%. This is a positive change from Cactus’s previous quarterly dividend of $0.12. Cactus’s dividend payout ratio is presently 20.72%.

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.