Equities research analysts predict that Cactus Inc (NYSE:WHD) will report earnings per share of $0.40 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Cactus’ earnings, with the highest EPS estimate coming in at $0.44 and the lowest estimate coming in at $0.37. The company is expected to announce its next quarterly earnings report on Wednesday, August 8th.
According to Zacks, analysts expect that Cactus will report full-year earnings of $1.53 per share for the current fiscal year, with EPS estimates ranging from $1.50 to $1.56. For the next year, analysts expect that the company will report earnings of $1.74 per share, with EPS estimates ranging from $1.70 to $1.78. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Cactus.
Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, May 9th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The business had revenue of $115.11 million during the quarter, compared to analysts’ expectations of $110.14 million.
Several research firms have weighed in on WHD. Johnson Rice began coverage on Cactus in a report on Thursday, May 24th. They issued an “accumulate” rating and a $40.00 price target on the stock. ValuEngine cut Cactus from a “buy” rating to a “hold” rating in a report on Saturday, May 26th. Barclays reaffirmed an “overweight” rating and issued a $36.00 price target (up previously from $31.00) on shares of Cactus in a report on Thursday, May 31st. Zacks Investment Research cut Cactus from a “buy” rating to a “hold” rating in a report on Tuesday, June 5th. Finally, Royal Bank of Canada began coverage on Cactus in a report on Friday, April 6th. They issued an “outperform” rating and a $32.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $33.50.
Shares of NYSE:WHD traded up $1.13 on Friday, hitting $32.69. The company’s stock had a trading volume of 10,957 shares, compared to its average volume of 332,520. Cactus has a 1 year low of $19.18 and a 1 year high of $37.50. The stock has a market cap of $2.32 billion and a P/E ratio of 0.03. The company has a quick ratio of 1.67, a current ratio of 2.86 and a debt-to-equity ratio of 0.04.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Cactus during the 1st quarter valued at about $51,410,000. Millennium Management LLC purchased a new position in shares of Cactus during the 1st quarter valued at about $34,585,000. Boston Partners purchased a new position in shares of Cactus during the 1st quarter valued at about $33,253,000. Zimmer Partners LP purchased a new position in shares of Cactus during the 1st quarter valued at about $27,469,000. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Cactus during the 1st quarter valued at about $18,405,000. 37.13% of the stock is currently owned by institutional investors.
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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