Brokers Offer Predictions for Cactus, Inc.’s Q3 2024 Earnings (NYSE:WHD)

Cactus, Inc. (NYSE:WHDFree Report) – Stock analysts at Zacks Research lifted their Q3 2024 EPS estimates for Cactus in a note issued to investors on Monday, April 1st. Zacks Research analyst R. Department now forecasts that the company will earn $0.80 per share for the quarter, up from their prior estimate of $0.79. The consensus estimate for Cactus’ current full-year earnings is $3.04 per share. Zacks Research also issued estimates for Cactus’ Q2 2025 earnings at $0.84 EPS and FY2025 earnings at $3.59 EPS.

Several other analysts also recently commented on WHD. Benchmark downgraded shares of Cactus from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Stifel Nicolaus cut their price target on shares of Cactus from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Cactus presently has an average rating of “Hold” and an average target price of $55.86.

View Our Latest Analysis on Cactus

Cactus Trading Down 0.4 %

NYSE WHD opened at $49.42 on Wednesday. Cactus has a 12 month low of $31.36 and a 12 month high of $57.00. The company has a current ratio of 3.17, a quick ratio of 2.00 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average price is $45.70 and its 200-day moving average price is $45.31. The stock has a market cap of $3.92 billion, a P/E ratio of 19.38, a P/E/G ratio of 8.41 and a beta of 1.96.

Cactus (NYSE:WHDGet Free Report) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.13. The company had revenue of $274.87 million for the quarter, compared to the consensus estimate of $268.56 million. Cactus had a return on equity of 22.69% and a net margin of 15.42%. The firm’s quarterly revenue was up 46.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 EPS.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its stake in Cactus by 59.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 678 shares of the company’s stock worth $26,000 after acquiring an additional 254 shares during the period. Belpointe Asset Management LLC bought a new stake in shares of Cactus during the 1st quarter valued at $27,000. State of Wyoming purchased a new position in shares of Cactus during the 4th quarter valued at $28,000. Principal Securities Inc. bought a new position in Cactus in the 4th quarter worth $30,000. Finally, NewEdge Advisors LLC increased its stake in Cactus by 886.7% in the 1st quarter. NewEdge Advisors LLC now owns 740 shares of the company’s stock worth $31,000 after buying an additional 665 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.

Insider Activity

In related news, CEO Scott Bender sold 78,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $45.79, for a total transaction of $3,571,620.00. Following the transaction, the chief executive officer now owns 20 shares in the company, valued at $915.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cactus news, EVP William D. Marsh sold 1,700 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $46.20, for a total transaction of $78,540.00. Following the completion of the sale, the executive vice president now directly owns 3,911 shares of the company’s stock, valued at $180,688.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Scott Bender sold 78,000 shares of Cactus stock in a transaction on Monday, March 4th. The stock was sold at an average price of $45.79, for a total transaction of $3,571,620.00. Following the transaction, the chief executive officer now owns 20 shares in the company, valued at approximately $915.80. The disclosure for this sale can be found here. Insiders own 17.72% of the company’s stock.

Cactus Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, February 26th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.97%. The ex-dividend date was Friday, February 23rd. Cactus’s dividend payout ratio is currently 18.82%.

About Cactus

(Get Free Report)

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.

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Earnings History and Estimates for Cactus (NYSE:WHD)

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