Wall Street analysts predict that Cactus Inc (NYSE:WHD) will post $149.41 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Cactus’ earnings, with estimates ranging from $148.82 million to $150.00 million. Cactus reported sales of $104.78 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 42.6%. The business is scheduled to report its next earnings results on Friday, March 8th.
On average, analysts expect that Cactus will report full year sales of $553.85 million for the current financial year, with estimates ranging from $553.13 million to $554.43 million. For the next fiscal year, analysts expect that the business will post sales of $647.05 million, with estimates ranging from $633.62 million to $658.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Cactus.
Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, October 31st. The company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The business had revenue of $150.70 million during the quarter, compared to analyst estimates of $146.35 million. Cactus had a return on equity of 51.28% and a net margin of 11.31%. The business’s revenue for the quarter was up 57.0% on a year-over-year basis.
Several brokerages have recently weighed in on WHD. Citigroup set a $42.00 price objective on Cactus and gave the company a “buy” rating in a report on Friday, November 2nd. ValuEngine lowered Cactus from a “hold” rating to a “sell” rating in a report on Monday, October 22nd. Zacks Investment Research upgraded Cactus from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective for the company in a report on Thursday, October 4th. Morgan Stanley began coverage on Cactus in a report on Tuesday, September 18th. They issued an “overweight” rating and a $42.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on Cactus from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, September 17th. One analyst has rated the stock with a sell rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Cactus presently has a consensus rating of “Buy” and a consensus target price of $38.80.
Shares of Cactus stock opened at $36.16 on Friday. The company has a quick ratio of 1.94, a current ratio of 3.52 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.79 billion and a PE ratio of 0.03. Cactus has a fifty-two week low of $19.18 and a fifty-two week high of $40.97.
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Cactus by 22.2% during the second quarter. BlackRock Inc. now owns 2,332,388 shares of the company’s stock worth $78,811,000 after purchasing an additional 423,339 shares during the period. Swiss National Bank acquired a new stake in shares of Cactus during the second quarter worth $1,554,000. California State Teachers Retirement System acquired a new stake in shares of Cactus during the first quarter worth $953,000. Viking Fund Management LLC acquired a new stake in shares of Cactus during the third quarter worth $5,359,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Cactus during the second quarter worth $315,000. 38.99% of the stock is currently owned by institutional investors.
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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