FY2024 Earnings Forecast for Cactus Issued By Zacks Research

Cactus, Inc. (NYSE:WHD) – Equities research analysts at Zacks Research boosted their FY2024 earnings per share (EPS) estimates for Cactus in a research report issued to clients and investors on Wednesday, November 13th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $3.07 for the year, up from their previous forecast 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 announced its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, beating 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 company had revenue of $293.18 million for the quarter, compared to analyst estimates of $287.47 million. During the same period in the prior year, the company posted $0.80 EPS. Cactus’s quarterly revenue was up 1.8% on a year-over-year basis.

A number of other equities research analysts have also issued reports on WHD. Stifel Nicolaus cut their target price on shares of Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Barclays cut Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price objective on the stock. in a research note on Monday, November 4th. Finally, Bank of America lifted their target price on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $56.40.

Cactus Trading Down 1.0 %

NYSE WHD opened at $65.24 on Monday. The company has a market capitalization of $5.19 billion, a price-to-earnings 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 current ratio of 3.82 and a quick ratio of 2.67. Cactus has a 12 month low of $37.58 and a 12 month high of $70.01. The company’s fifty day moving average price is $61.66 and its two-hundred day moving average price is $57.16.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.52 annualized dividend and a yield of 0.80%. Cactus’s dividend payout ratio (DPR) is 18.44%.

Insiders Place Their Bets

In other Cactus news, CEO Stephen Tadlock sold 33,500 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 36,357 shares in the company, valued at approximately $2,230,501.95. This trade represents a 47.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Steven Bender sold 100,000 shares of the business’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 directly owns 57,567 shares of the company’s stock, valued at approximately $3,762,003.45. This trade represents a 63.47 % decrease in their position. The disclosure for this sale can be found here. 16.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cactus

Several hedge funds and other institutional investors have recently made changes to their positions in WHD. Quest Partners LLC acquired a new stake in Cactus in the third quarter worth about $34,000. GAMMA Investing LLC boosted its holdings in shares of Cactus by 33.8% in the second quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock valued at $71,000 after acquiring an additional 340 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Cactus in the first quarter valued at approximately $115,000. Covestor Ltd increased its stake in shares of Cactus by 251.8% during the first quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $126,000 after acquiring an additional 1,795 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings 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 in 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.