Cactus, Inc. (NYSE:WHD) Expected to Announce Earnings of $0.10 Per Share


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Analysts forecast that Cactus, Inc. (NYSE:WHD) will announce earnings per share of $0.10 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Cactus’ earnings, with the lowest EPS estimate coming in at $0.09 and the highest estimate coming in at $0.12. Cactus posted earnings per share of $0.41 in the same quarter last year, which would indicate a negative year over year growth rate of 75.6%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, May 5th.

According to Zacks, analysts expect that Cactus will report full-year earnings of $0.66 per share for the current financial year, with EPS estimates ranging from $0.55 to $0.78. For the next financial year, analysts expect that the company will report earnings of $1.25 per share, with EPS estimates ranging from $1.09 to $1.43. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Cactus.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, February 24th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. Cactus had a return on equity of 14.25% and a net margin of 11.96%. The company had revenue of $68.09 million for the quarter, compared to analyst estimates of $68.88 million.

Several equities research analysts have recently weighed in on WHD shares. Smith Barney Citigroup upped their price objective on Cactus from $26.00 to $29.00 in a research note on Tuesday, December 15th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on Cactus from $26.00 to $29.00 in a report on Tuesday, December 15th. Morgan Stanley raised Cactus from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $33.00 to $40.00 in a report on Wednesday, March 31st. Piper Sandler reissued a “neutral” rating and issued a $32.00 target price on shares of Cactus in a report on Monday, March 15th. Finally, Bank of America raised Cactus from a “neutral” rating to a “buy” rating in a report on Wednesday, January 6th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $26.86.

Shares of WHD stock traded down $0.96 during trading hours on Monday, hitting $29.94. The company had a trading volume of 553 shares, compared to its average volume of 509,458. Cactus has a 12 month low of $11.80 and a 12 month high of $39.07. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 23.77 and a beta of 2.35. The firm’s fifty day moving average is $31.96 and its 200 day moving average is $26.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.55 and a current ratio of 7.09.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 18th. Shareholders of record on Monday, March 1st were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.20%. The ex-dividend date was Friday, February 26th. Cactus’s dividend payout ratio is 19.35%.

In other Cactus news, VP Steven Bender sold 192,825 shares of the company’s stock in a transaction on Friday, March 12th. The stock was sold at an average price of $30.55, for a total transaction of $5,890,803.75. Following the transaction, the vice president now owns 192,825 shares of the company’s stock, valued at approximately $5,890,803.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gary L. Rosenthal sold 10,000 shares of the company’s stock in a transaction on Monday, March 1st. The stock was sold at an average price of $33.01, for a total value of $330,100.00. Following the transaction, the director now directly owns 36,772 shares in the company, valued at approximately $1,213,843.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,616,399 shares of company stock worth $232,705,589. Company insiders own 24.28% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Cactus by 12.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,311,670 shares of the company’s stock valued at $138,475,000 after purchasing an additional 579,745 shares during the period. BlackRock Inc. lifted its stake in shares of Cactus by 11.5% in the 4th quarter. BlackRock Inc. now owns 3,759,121 shares of the company’s stock valued at $98,001,000 after purchasing an additional 387,781 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Cactus by 35.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,550,121 shares of the company’s stock valued at $66,483,000 after purchasing an additional 673,241 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Cactus by 28.3% in the 4th quarter. Lazard Asset Management LLC now owns 2,175,405 shares of the company’s stock valued at $56,712,000 after purchasing an additional 480,323 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Cactus by 4.8% in the 4th quarter. Alliancebernstein L.P. now owns 1,309,543 shares of the company’s stock valued at $34,140,000 after purchasing an additional 60,417 shares during the period. 62.66% of the stock is currently owned by institutional investors.

About Cactus

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.

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