$146.95 Million in Sales Expected for Cactus Inc (WHD) This Quarter

Analysts predict that Cactus Inc (NYSE:WHD) will announce sales of $146.95 million for the current quarter, Zacks reports. Two analysts have provided estimates for Cactus’ earnings, with the highest sales estimate coming in at $147.90 million and the lowest estimate coming in at $146.00 million. Cactus reported sales of $104.78 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 40.2%. The business is scheduled to report its next quarterly earnings results on Friday, March 8th.

On average, analysts expect that Cactus will report full-year sales of $552.67 million for the current financial year, with estimates ranging from $551.00 million to $554.80 million. For the next year, analysts expect that the company will post sales of $573.42 million, with estimates ranging from $545.00 million to $613.16 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Cactus.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, October 31st. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. Cactus had a net margin of 11.31% and a return on equity of 51.28%. The firm had revenue of $150.70 million for the quarter, compared to analyst estimates of $146.35 million. Cactus’s quarterly revenue was up 57.0% on a year-over-year basis.

Several equities analysts have recently commented on WHD shares. Bank of America started coverage on shares of Cactus in a report on Monday, December 3rd. They issued a “buy” rating and a $36.00 price objective on the stock. Citigroup set a $42.00 price objective on shares of Cactus and gave the stock a “buy” rating in a report on Friday, November 2nd. Stephens started coverage on shares of Cactus in a report on Wednesday, January 9th. They issued an “overweight” rating and a $45.00 price objective on the stock. ValuEngine upgraded shares of Cactus from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Finally, Zacks Investment Research upgraded shares of Cactus from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective on the stock in a report on Thursday, October 4th. One equities research analyst has rated the stock with a sell rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $39.82.

Shares of WHD stock traded down $0.87 during trading hours on Friday, hitting $31.35. The company had a trading volume of 6,505 shares, compared to its average volume of 256,959. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 3.52. Cactus has a fifty-two week low of $19.18 and a fifty-two week high of $40.97. The firm has a market cap of $2.41 billion and a P/E ratio of 0.03.

A number of institutional investors have recently added to or reduced their stakes in WHD. Bank of New York Mellon Corp lifted its holdings in Cactus by 165.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 218,305 shares of the company’s stock worth $7,377,000 after buying an additional 136,203 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Cactus by 117.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 241,776 shares of the company’s stock worth $8,170,000 after buying an additional 130,716 shares in the last quarter. BlackRock Inc. lifted its holdings in Cactus by 22.2% during the 2nd quarter. BlackRock Inc. now owns 2,332,388 shares of the company’s stock worth $78,811,000 after buying an additional 423,339 shares in the last quarter. Legal & General Group Plc lifted its holdings in Cactus by 120.1% during the 2nd quarter. Legal & General Group Plc now owns 9,048 shares of the company’s stock worth $306,000 after buying an additional 4,938 shares in the last quarter. Finally, OppenheimerFunds Inc. acquired a new stake in Cactus during the 2nd quarter worth approximately $612,000. Institutional investors own 50.74% of the company’s stock.

About Cactus

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment. The company's principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.

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