Q2 2023 EPS Estimates for Cactus, Inc. (NYSE:WHD) Raised by Zacks Research

Cactus, Inc. (NYSE:WHD – Get Rating) – Stock analysts at Zacks Research lifted their Q2 2023 EPS estimates for shares of Cactus in a report issued on Tuesday, May 23rd. Zacks Research analyst N. Banerjee now expects that the company will post earnings of $0.63 per share for the quarter, up from their prior estimate of $0.57. The consensus estimate for Cactus’ current full-year earnings is $2.31 per share. Zacks Research also issued estimates for Cactus’ FY2023 earnings at $2.44 EPS and Q1 2025 earnings at $0.76 EPS.

Cactus (NYSE:WHD – Get Rating) last posted its quarterly earnings results on Tuesday, May 9th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.08. The business had revenue of $228.40 million during the quarter, compared to analyst estimates of $217.45 million. Cactus had a net margin of 17.18% and a return on equity of 19.95%. The company’s revenue was up 56.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 earnings per share.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus dropped their price target on shares of Cactus from $64.00 to $61.00 in a research report on Friday, May 19th. Citigroup cut their target price on Cactus from $48.00 to $40.00 in a research note on Thursday, May 18th. Finally, Barclays dropped their price objective on Cactus from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, February 28th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Cactus currently has an average rating of “Hold” and a consensus price target of $55.17.

Cactus Stock Performance

Shares of WHD stock opened at $34.33 on Friday. The company has a market capitalization of $2.72 billion, a P/E ratio of 16.50, a PEG ratio of 4.23 and a beta of 1.94. Cactus has a fifty-two week low of $34.24 and a fifty-two week high of $58.30. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.58 and a current ratio of 2.83. The stock has a 50 day moving average price of $39.31 and a two-hundred day moving average price of $47.07.

Cactus Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Tuesday, May 30th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Friday, May 26th. Cactus’s payout ratio is presently 21.15%.

Insider Activity at Cactus

In other Cactus news, CAO Donna L. Anderson sold 2,985 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $47.83, for a total value of $142,772.55. Following the completion of the transaction, the chief accounting officer now owns 3,262 shares in the company, valued at $156,021.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 17.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cactus

A number of institutional investors and hedge funds have recently made changes to their positions in WHD. Massachusetts Financial Services Co. MA increased its position in Cactus by 334.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,430,977 shares of the company’s stock valued at $54,993,000 after buying an additional 1,101,513 shares in the last quarter. Wellington Management Group LLP boosted its stake in Cactus by 67.7% in the 1st quarter. Wellington Management Group LLP now owns 2,626,384 shares of the company’s stock worth $108,286,000 after purchasing an additional 1,059,928 shares in the last quarter. Neuberger Berman Group LLC purchased a new stake in Cactus during the 4th quarter valued at about $47,278,000. Invesco Ltd. increased its stake in Cactus by 510.9% during the 1st quarter. Invesco Ltd. now owns 864,909 shares of the company’s stock valued at $49,075,000 after purchasing an additional 723,339 shares in the last quarter. Finally, Norges Bank purchased a new position in Cactus in the fourth quarter worth about $23,617,000. Institutional investors own 83.06% of the company’s stock.

Cactus Company Profile

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Cactus, Inc is a holding company, which engages in the design, manufacture and sale of wellhead and pressure control equipment. Its products include Cactus SafeDrill wellhead systems as well as frac stacks, Cactus SafeLink monobore, SafeClamp and SafeInject systems. It also offers field services for its products and rental items to assist with the installation, maintenance, and handling of the wellhead and pressure control equipment.