Cactus, Inc. (NYSE:WHD) Expected to Post Quarterly Sales of $141.61 Million

Equities research analysts expect that Cactus, Inc. (NYSE:WHDGet Rating) will announce sales of $141.61 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Cactus’ earnings, with estimates ranging from $140.20 million to $143.30 million. Cactus reported sales of $84.42 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 67.7%. The firm is expected to report its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Cactus will report full year sales of $662.49 million for the current fiscal year, with estimates ranging from $651.10 million to $679.48 million. For the next fiscal year, analysts anticipate that the business will post sales of $819.23 million, with estimates ranging from $792.90 million to $837.60 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Cactus.

Cactus (NYSE:WHDGet Rating) last issued its earnings results on Monday, February 28th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. Cactus had a return on equity of 6.95% and a net margin of 11.31%. The business had revenue of $129.90 million during the quarter, compared to the consensus estimate of $123.26 million. During the same quarter last year, the company earned $0.08 EPS. The firm’s revenue was up 90.7% compared to the same quarter last year.

A number of equities analysts have commented on the company. Morgan Stanley cut Cactus from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $60.00 to $52.00 in a research note on Monday, April 11th. Bank of America cut Cactus from a “buy” rating to a “neutral” rating in a research note on Friday, March 11th. Piper Sandler boosted their target price on Cactus from $45.50 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, March 2nd. Zacks Investment Research upgraded Cactus from a “hold” rating to a “strong-buy” rating and set a $66.00 price target on the stock in a research report on Monday, April 4th. Finally, Barclays lifted their price target on Cactus from $50.00 to $56.00 in a research report on Wednesday, March 2nd. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $56.83.

Shares of WHD traded up $1.76 during trading hours on Monday, reaching $60.27. 514,173 shares of the company’s stock traded hands, compared to its average volume of 482,452. The stock has a market cap of $4.56 billion, a PE ratio of 72.62 and a beta of 2.07. The company has a current ratio of 5.60, a quick ratio of 4.31 and a debt-to-equity ratio of 0.01. Cactus has a 12 month low of $27.26 and a 12 month high of $64.18. The firm’s 50 day simple moving average is $53.14 and its 200-day simple moving average is $45.60.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 17th. Shareholders of record on Monday, February 28th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.73%. This is an increase from Cactus’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, February 25th. Cactus’s payout ratio is 53.01%.

In related news, VP Steven Bender sold 9,119 shares of the company’s stock in a transaction on Monday, March 14th. The stock was sold at an average price of $51.16, for a total transaction of $466,528.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joel Bender sold 16,268 shares of the company’s stock in a transaction on Tuesday, March 15th. The shares were sold at an average price of $48.70, for a total value of $792,251.60. The disclosure for this sale can be found here. Insiders sold 235,206 shares of company stock worth $12,856,083 over the last three months. Corporate insiders own 21.28% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of WHD. Morgan Stanley boosted its stake in shares of Cactus by 212.5% in the second quarter. Morgan Stanley now owns 200,359 shares of the company’s stock worth $7,358,000 after acquiring an additional 136,250 shares during the period. Strs Ohio lifted its holdings in Cactus by 1.2% during the 3rd quarter. Strs Ohio now owns 192,420 shares of the company’s stock valued at $7,258,000 after buying an additional 2,220 shares in the last quarter. Fisher Asset Management LLC grew its stake in Cactus by 6.3% in the 3rd quarter. Fisher Asset Management LLC now owns 216,989 shares of the company’s stock worth $8,185,000 after acquiring an additional 12,906 shares in the last quarter. Meritage Portfolio Management bought a new position in Cactus in the 3rd quarter worth about $226,000. Finally, State of New Jersey Common Pension Fund D grew its stake in Cactus by 13.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 81,461 shares of the company’s stock worth $3,073,000 after acquiring an additional 9,830 shares in the last quarter.

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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