Brokers Set Expectations for Cactus’ Q4 Earnings (NYSE:WHD)

Cactus, Inc. (NYSE:WHD) – Zacks Research boosted their Q4 2024 EPS estimates for Cactus in a report released on Monday, January 6th. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of $0.73 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.

WHD has been the subject of a number of other research reports. Stifel Nicolaus lowered their target price on shares of Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a report on Friday, October 11th. Bank of America lifted 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. Finally, Barclays lowered shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price for the company. in a 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $56.40.

Cactus Price Performance

WHD opened at $59.47 on Thursday. The company has a fifty day moving average price of $63.22 and a two-hundred day moving average price of $60.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. Cactus has a 52 week low of $37.58 and a 52 week high of $70.01. The firm has a market capitalization of $4.73 billion, a PE ratio of 21.09, a P/E/G ratio of 2.98 and a beta of 1.98.

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

Cactus Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Monday, December 2nd were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Monday, December 2nd. Cactus’s dividend payout ratio is currently 18.44%.

Insider Activity at Cactus

In related news, COO Steven Bender sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $65.35, for a total value of $6,535,000.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce M. Rothstein sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total transaction of $326,100.00. Following the completion of the transaction, the director now directly owns 12,177 shares of the company’s stock, valued at approximately $794,183.94. The trade was a 29.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 138,500 shares of company stock worth $8,916,325 in the last quarter. Corporate insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Cactus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WHD. Pacer Advisors Inc. acquired a new position in Cactus in the 2nd quarter worth $122,623,000. Makaira Partners LLC boosted its stake in Cactus by 399.6% in the 2nd quarter. Makaira Partners LLC now owns 499,581 shares of the company’s stock worth $26,348,000 after purchasing an additional 399,581 shares during the period. Weiss Asset Management LP acquired a new position in Cactus in the 3rd quarter worth $13,647,000. Bridgewater Associates LP acquired a new position in Cactus in the 3rd quarter worth $9,501,000. Finally, Renaissance Technologies LLC boosted its stake in Cactus by 179.2% in the 2nd quarter. Renaissance Technologies LLC now owns 238,700 shares of the company’s stock worth $12,589,000 after purchasing an additional 153,200 shares during the period. 85.11% of the stock is owned by institutional investors and hedge funds.

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.