Cactus Inc (WHD) Expected to Post Earnings of $0.47 Per Share

Brokerages forecast that Cactus Inc (NYSE:WHD) will post earnings per share (EPS) of $0.47 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Cactus’ earnings, with the lowest EPS estimate coming in at $0.45 and the highest estimate coming in at $0.48. Cactus posted earnings of $0.34 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 38.2%. The firm is expected to report its next earnings results after the market closes on Wednesday, May 1st.

On average, analysts expect that Cactus will report full year earnings of $1.99 per share for the current fiscal year, with EPS estimates ranging from $1.85 to $2.11. For the next fiscal year, analysts anticipate that the business will report earnings of $2.35 per share, with EPS estimates ranging from $1.95 to $2.82. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Cactus.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, March 6th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.45. Cactus had a net margin of 9.50% and a return on equity of 37.69%. The company had revenue of $139.82 million during the quarter, compared to analysts’ expectations of $146.27 million.

Several research firms recently weighed in on WHD. Zacks Investment Research upgraded shares of Cactus from a “strong sell” rating to a “hold” rating in a research note on Friday, February 15th. Bank of America reiterated a “buy” rating and issued a $48.00 target price (up previously from $42.00) on shares of Cactus in a research note on Tuesday, April 16th. Royal Bank of Canada increased their target price on shares of Cactus from $33.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, March 8th. Stephens began coverage on shares of Cactus in a research note on Wednesday, January 9th. They issued an “overweight” rating and a $45.00 target price for the company. Finally, ValuEngine upgraded shares of Cactus from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $42.00.

In related news, Director Alan Semple sold 9,130 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $35.93, for a total value of $328,040.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Steven Bender sold 228,880 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $35.93, for a total transaction of $8,223,658.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,173,649 shares of company stock valued at $78,099,209. 96.10% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Great West Life Assurance Co. Can raised its position in Cactus by 83.2% in the fourth quarter. Great West Life Assurance Co. Can now owns 4,071 shares of the company’s stock worth $108,000 after purchasing an additional 1,849 shares in the last quarter. Legal & General Group Plc raised its position in Cactus by 9.1% in the fourth quarter. Legal & General Group Plc now owns 6,853 shares of the company’s stock worth $188,000 after purchasing an additional 572 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in Cactus by 3.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 8,874 shares of the company’s stock worth $243,000 after purchasing an additional 308 shares in the last quarter. United Services Automobile Association acquired a new position in Cactus in the third quarter worth about $249,000. Finally, Sawgrass Asset Management LLC raised its position in Cactus by 21.5% in the fourth quarter. Sawgrass Asset Management LLC now owns 9,125 shares of the company’s stock worth $250,000 after purchasing an additional 1,615 shares in the last quarter. 51.87% of the stock is owned by hedge funds and other institutional investors.

NYSE WHD opened at $37.74 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.68 and a quick ratio of 2.34. Cactus has a twelve month low of $24.60 and a twelve month high of $40.97. The stock has a market capitalization of $2.83 billion, a P/E ratio of 21.32, a P/E/G ratio of 0.66 and a beta of 1.22.

Cactus Company Profile

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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