Equities Analysts Set Expectations for Cactus Q4 Earnings

Cactus, Inc. (NYSE:WHD) – Zacks Research raised their Q4 2024 earnings estimates for shares of Cactus in a research report issued to clients and investors on Monday, January 6th. Zacks Research analyst R. Department now forecasts that the company will earn $0.73 per share for the quarter, up from their prior estimate 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 topic of several other research reports. Bank of America upped their target price on Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research report on Monday, October 14th. Barclays downgraded shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price objective for the company. in a research report on Monday, November 4th. Finally, Stifel Nicolaus dropped 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. One 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $56.40.

Cactus Stock Performance

Shares of Cactus stock opened at $59.42 on Thursday. The business has a 50-day moving average price of $63.21 and a two-hundred day moving average price of $60.08. Cactus has a 1-year low of $37.58 and a 1-year high of $70.01. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. The company has a market cap of $4.73 billion, a P/E ratio of 21.07, a PEG ratio of 2.98 and a beta of 1.98.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, topping 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 net margin of 16.57% and a return on equity of 20.24%. Cactus’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 earnings per share.

Cactus Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 0.88%. The ex-dividend date was Monday, December 2nd. Cactus’s payout ratio is currently 18.44%.

Insider Buying and Selling at Cactus

In other Cactus news, COO Steven Bender sold 100,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was 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 in the company, valued at approximately $3,762,003.45. This trade represents a 63.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the director now owns 12,177 shares of the company’s stock, valued at approximately $794,183.94. The trade was a 29.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,500 shares of company stock worth $8,916,325. 17.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Natixis Advisors LLC bought a new position in shares of Cactus during the 2nd quarter worth approximately $775,000. Rhumbline Advisers lifted its holdings in Cactus by 69.7% during the second quarter. Rhumbline Advisers now owns 206,982 shares of the company’s stock worth $10,916,000 after acquiring an additional 84,984 shares during the period. Oregon Public Employees Retirement Fund purchased a new position in Cactus in the second quarter worth $842,000. TD Asset Management Inc grew its stake in 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 purchasing an additional 23,800 shares during the period. Finally, Arizona State Retirement System increased its position in shares of Cactus by 3.3% during the 2nd quarter. Arizona State Retirement System now owns 18,341 shares of the company’s stock valued at $967,000 after purchasing an additional 585 shares during the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

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.