Zacks Research Weighs in on Cactus’ Q4 Earnings (NYSE:WHD)

Cactus, Inc. (NYSE:WHD) – Equities researchers at Zacks Research increased their Q4 2024 earnings estimates for Cactus in a research report issued to clients and investors on Monday, January 6th. Zacks Research analyst R. Department now expects that the company will post earnings per share of $0.73 for the quarter, up from their previous estimate of $0.72. The consensus estimate for Cactus’ current full-year earnings is $3.08 per share. Zacks Research also issued estimates for Cactus’ FY2025 earnings at $3.25 EPS.

WHD has been the topic of several other research reports. Barclays downgraded Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price on the stock. in a research note on Monday, November 4th. Stifel Nicolaus cut their price objective on shares of Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Finally, Bank of America increased their target price on shares of Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.40.

Cactus Stock Down 0.8 %

Shares of Cactus stock opened at $59.42 on Thursday. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.98 and a beta of 1.98. The business’s 50 day simple moving average is $63.21 and its 200-day simple moving average is $60.08. 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 has a twelve month low of $37.58 and a twelve month high of $70.01.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.04. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The business had revenue of $293.18 million for the quarter, compared to analyst estimates of $287.47 million. During the same period in the prior year, the company posted $0.80 EPS. The business’s revenue was up 1.8% compared to the same quarter last year.

Institutional Investors Weigh In On Cactus

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

Insiders Place Their Bets

In other Cactus news, CEO Stephen Tadlock sold 33,500 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the completion of the sale, the chief executive officer now directly owns 36,357 shares of the company’s stock, valued at approximately $2,230,501.95. This represents a 47.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce M. Rothstein sold 5,000 shares of Cactus stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total transaction of $326,100.00. Following the completion of the transaction, the director now directly owns 12,177 shares in the company, valued at approximately $794,183.94. This trade represents a 29.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,500 shares of company stock worth $8,916,325. 17.71% of the stock is owned by corporate insiders.

Cactus Dividend Announcement

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