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

Cactus, Inc. (NYSE:WHD) – Zacks Research upped their FY2024 EPS estimates for shares of Cactus in a research note issued on Wednesday, November 13th. Zacks Research analyst R. Department now expects 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.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.75 by $0.04. The business had revenue of $293.18 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 earnings per share.

Other equities research analysts also recently issued reports about 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 report 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 research note on Friday, October 11th. Finally, Barclays cut Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price for the company. in a research report on Monday, November 4th. One equities research 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, the company currently has a consensus rating of “Hold” and an average price target of $56.40.

Cactus Price Performance

Shares of NYSE:WHD opened at $65.24 on Monday. The company has a market capitalization of $5.19 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 3.04 and a beta of 1.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The stock has a fifty day moving average of $61.66 and a 200-day moving average of $57.16. Cactus has a one year low of $37.58 and a one year high of $70.01.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in Cactus by 6.5% during the third quarter. Geode Capital Management LLC now owns 1,758,286 shares of the company’s stock valued at $104,934,000 after purchasing an additional 106,819 shares during the last quarter. Barclays PLC boosted its holdings in shares of Cactus by 429.4% during the 3rd quarter. Barclays PLC now owns 123,562 shares of the company’s stock worth $7,373,000 after buying an additional 100,223 shares during the period. XTX Topco Ltd acquired a new position in Cactus in the 3rd quarter valued at $596,000. Weiss Asset Management LP acquired a new position in Cactus in the 3rd quarter valued at $13,647,000. Finally, State Street Corp raised its holdings in Cactus by 3.0% in the 3rd quarter. State Street Corp now owns 2,755,757 shares of the company’s stock worth $164,436,000 after acquiring an additional 81,149 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.

Insiders Place Their Bets

In other Cactus 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 sale, the chief executive officer now directly owns 36,357 shares of the company’s stock, valued at $2,230,501.95. The trade was a 47.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 on Wednesday, November 6th. The shares were 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 $3,762,003.45. This represents a 63.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 16.84% of the company’s stock.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be paid a $0.13 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 0.80%. Cactus’s dividend payout ratio (DPR) is currently 18.44%.

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.