Cactus, Inc. (NYSE:WHD) to Post Q4 2023 Earnings of $0.49 Per Share, Piper Sandler Forecasts

Cactus, Inc. (NYSE:WHDGet Rating) – Investment analysts at Piper Sandler cut their Q4 2023 earnings per share (EPS) estimates for Cactus in a research note issued on Monday, April 11th. Piper Sandler analyst I. Macpherson now expects that the company will post earnings of $0.49 per share for the quarter, down from their previous forecast of $0.51. Piper Sandler has a “Neutral” rating and a $55.00 price target on the stock.

WHD has been the topic of several other research reports. TheStreet upgraded shares of Cactus from a “c” rating to a “b-” rating in a report on Monday, February 28th. Tudor Pickering downgraded shares of Cactus from a “buy” rating to a “hold” rating in a report on Tuesday, March 1st. Citigroup downgraded shares of Cactus from a “buy” rating to a “neutral” rating in a report on Monday, March 14th. Bank of America downgraded shares of Cactus from a “buy” rating to a “neutral” rating in a report on Friday, March 11th. Finally, Zacks Investment Research raised shares of Cactus from a “hold” rating to a “strong-buy” rating and set a $66.00 price objective for the company in a report on Monday, April 4th. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cactus currently has an average rating of “Hold” and an average target price of $56.83.

Shares of NYSE:WHD opened at $58.51 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.31 and a current ratio of 5.60. Cactus has a 52-week low of $27.26 and a 52-week high of $64.18. The company has a market capitalization of $4.43 billion, a PE ratio of 70.49 and a beta of 2.07. The company has a fifty day moving average of $52.70 and a 200-day moving average of $45.34.

Cactus (NYSE:WHDGet Rating) last issued its quarterly earnings data on Monday, February 28th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. Cactus had a return on equity of 6.95% and a net margin of 11.31%. The company had revenue of $129.90 million during the quarter, compared to analysts’ expectations of $123.26 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The business’s revenue was up 90.7% on a year-over-year basis.

Several institutional investors and hedge funds have recently made changes to their positions in WHD. Credit Suisse AG boosted its stake in Cactus by 9.0% during the third quarter. Credit Suisse AG now owns 41,363 shares of the company’s stock worth $1,560,000 after acquiring an additional 3,420 shares in the last quarter. Raymond James & Associates raised its holdings in Cactus by 9.8% in the third quarter. Raymond James & Associates now owns 108,313 shares of the company’s stock worth $4,086,000 after buying an additional 9,654 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Cactus by 76.2% in the third quarter. Victory Capital Management Inc. now owns 1,148,579 shares of the company’s stock worth $43,324,000 after buying an additional 496,539 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in Cactus in the third quarter worth about $4,777,000. Finally, Bank of New York Mellon Corp raised its holdings in Cactus by 23.9% in the third quarter. Bank of New York Mellon Corp now owns 3,207,104 shares of the company’s stock worth $120,973,000 after buying an additional 619,369 shares during the last quarter.

In other Cactus news, CEO Scott Bender sold 82,067 shares of the firm’s stock in a transaction on Monday, March 14th. The shares were sold at an average price of $51.16, for a total value of $4,198,547.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Donna L. Anderson sold 1,496 shares of the firm’s stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $58.00, for a total transaction of $86,768.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 235,206 shares of company stock worth $12,856,083. Corporate insiders own 21.28% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 17th. Stockholders of record on Monday, February 28th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, February 25th. This represents a $0.44 annualized dividend and a dividend yield of 0.75%. This is a boost from Cactus’s previous quarterly dividend of $0.10. Cactus’s dividend payout ratio (DPR) is 53.01%.

Cactus Company Profile (Get Rating)

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.

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Earnings History and Estimates for Cactus (NYSE:WHD)

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