FY2024 Earnings Estimate for Cactus Issued By Zacks Research

Cactus, Inc. (NYSE:WHD - Free Report) - Analysts at Zacks Research upped their FY2024 earnings per share estimates for shares of Cactus in a note issued to investors on Monday, January 6th. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of $3.08 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.

WHD has been the subject of a number of other reports. Stifel Nicolaus dropped their price target on Cactus from $69.00 to $67.00 and set a "buy" rating for the company in a research report on Friday, October 11th. Barclays downgraded Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 target price for the company. in a research note on Monday, November 4th. Finally, Bank of America lifted their price target on Cactus from $44.00 to $48.00 and gave the stock an "underperform" rating in a report on Monday, October 14th. 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 data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $56.40.

Cactus Price Performance

NYSE:WHD traded down $0.49 during trading hours on Wednesday, hitting $59.42. 299,752 shares of the stock were exchanged, compared to its average volume of 450,490. The company has a market cap of $4.73 billion, a P/E ratio of 21.07, a P/E/G ratio of 2.98 and a beta of 1.98. The firm's fifty day moving average price is $63.17 and its 200 day moving average price is $60.09. Cactus has a 52-week low of $37.58 and a 52-week 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.

Cactus (NYSE:WHD - Get Free Report) last announced its earnings results 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 business had revenue of $293.18 million during the quarter, compared to the consensus estimate of $287.47 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The business's quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 EPS.

Hedge Funds Weigh In On Cactus

A number of institutional investors and hedge funds have recently modified their holdings of the company. Central Pacific Bank Trust Division boosted its holdings in shares of Cactus by 32.6% in the 4th quarter. Central Pacific Bank Trust Division now owns 3,336 shares of the company's stock valued at $195,000 after buying an additional 820 shares in the last quarter. Versant Capital Management Inc lifted its position in Cactus by 165.4% in the fourth quarter. Versant Capital Management Inc now owns 576 shares of the company's stock valued at $34,000 after acquiring an additional 359 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Cactus by 1.7% in the third quarter. JPMorgan Chase & Co. now owns 3,102,984 shares of the company's stock valued at $185,155,000 after acquiring an additional 52,085 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Cactus by 4.8% during the third quarter. Principal Financial Group Inc. now owns 342,278 shares of the company's stock worth $20,424,000 after purchasing an additional 15,760 shares during the last quarter. Finally, Tidal Investments LLC increased its position in shares of Cactus by 9.1% during the third quarter. Tidal Investments LLC now owns 31,204 shares of the company's stock worth $1,862,000 after purchasing an additional 2,591 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.

Insider Buying and Selling

In other Cactus news, COO Steven Bender sold 100,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $65.35, for a total value of $6,535,000.00. Following the sale, the chief operating officer now owns 57,567 shares of the company's stock, valued at $3,762,003.45. This trade represents a 63.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the sale, the chief executive officer now owns 36,357 shares in the company, valued at $2,230,501.95. The trade was a 47.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 138,500 shares of company stock valued at $8,916,325. Corporate insiders own 17.71% of the company's stock.

Cactus Dividend Announcement

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

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.