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

Cactus, Inc. (NYSE:WHD) – Investment analysts at Zacks Research lifted their FY2024 earnings per share estimates for shares of Cactus in a report issued on Monday, January 6th. Zacks Research analyst R. Department now forecasts that the company will post earnings of $3.08 per share for the year, up from their prior estimate of $3.07. The consensus estimate for Cactus’ current full-year earnings is $3.08 per share. Zacks Research also issued estimates for Cactus’ Q2 2025 earnings at $0.80 EPS, Q3 2025 earnings at $0.83 EPS, Q4 2025 earnings at $0.84 EPS, Q2 2026 earnings at $0.94 EPS, Q3 2026 earnings at $0.89 EPS, Q4 2026 earnings at $0.93 EPS and FY2026 earnings at $3.63 EPS.

A number of other research analysts have also recently commented on WHD. Stifel Nicolaus reduced their target price on shares of Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Bank of America lifted their price target on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research note on Monday, October 14th. Finally, Barclays lowered 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 research 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 data from MarketBeat, Cactus currently has a consensus rating of “Hold” and an average price target of $56.40.

Cactus Trading Down 0.8 %

NYSE WHD opened at $59.42 on Wednesday. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.98 and a beta of 1.98. 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 one year low of $37.58 and a one year high of $70.01. The company’s 50 day moving average price is $63.21 and its 200 day moving average price is $60.08.

Cactus (NYSE:WHD) last posted its quarterly 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 company had revenue of $293.18 million during the quarter, compared to analysts’ expectations of $287.47 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 EPS.

Hedge Funds Weigh In On Cactus

Several institutional investors and hedge funds have recently bought and sold shares of WHD. Bridgewater Associates LP acquired a new position in shares of Cactus in the third quarter worth $9,501,000. JPMorgan Chase & Co. increased its position in Cactus by 1.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,102,984 shares of the company’s stock worth $185,155,000 after purchasing an additional 52,085 shares during the last quarter. Amalgamated Bank raised its stake in shares of Cactus by 800.4% during the 2nd quarter. Amalgamated Bank now owns 20,071 shares of the company’s stock worth $1,059,000 after purchasing an additional 17,842 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Cactus by 69.7% during the 2nd quarter. Rhumbline Advisers now owns 206,982 shares of the company’s stock valued at $10,916,000 after buying an additional 84,984 shares during the last quarter. Finally, TD Asset Management Inc grew its stake in shares of Cactus by 160.8% in the 2nd quarter. TD Asset Management Inc now owns 38,600 shares of the company’s stock valued at $2,036,000 after buying an additional 23,800 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Insider Transactions at Cactus

In other news, Director Bruce M. Rothstein sold 5,000 shares of Cactus stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $65.22, for a total value of $326,100.00. Following the transaction, the director now directly owns 12,177 shares of the company’s stock, valued at $794,183.94. This trade represents a 29.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stephen Tadlock sold 33,500 shares of the company’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 transaction of $2,055,225.00. Following the completion of the sale, the chief executive officer now owns 36,357 shares of the company’s stock, valued at approximately $2,230,501.95. This trade represents a 47.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 138,500 shares of company stock valued at $8,916,325 in the last quarter. Insiders own 17.71% of the company’s stock.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd were paid a $0.13 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.52 annualized dividend and a dividend yield of 0.88%. Cactus’s dividend payout ratio is currently 18.44%.

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.