Cactus, Inc. (NYSE:WHD) to Post FY2024 Earnings of $3.03 Per Share, Zacks Research Forecasts

Cactus, Inc. (NYSE:WHD) – Equities research analysts at Zacks Research boosted their FY2024 EPS estimates for Cactus in a report released on Wednesday, September 18th. Zacks Research analyst R. Department now anticipates that the company will earn $3.03 per share for the year, up from their previous forecast of $3.01. The consensus estimate for Cactus’ current full-year earnings is $3.03 per share. Zacks Research also issued estimates for Cactus’ Q2 2025 earnings at $0.79 EPS and Q4 2025 earnings at $0.90 EPS.

Other analysts have also recently issued reports about the company. Barclays upped their target price on Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Piper Sandler lowered their target price on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Citigroup increased their price target on shares of Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Finally, Johnson Rice lowered shares of Cactus from a “buy” rating to an “accumulate” rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cactus currently has an average rating of “Hold” and an average price target of $54.00.

Cactus Price Performance

Shares of WHD opened at $63.46 on Friday. The firm has a fifty day moving average price of $58.96 and a 200 day moving average price of $53.48. The stock has a market cap of $5.05 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 2.15 and a beta of 1.95. Cactus has a 1-year low of $37.58 and a 1-year high of $64.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.75 and a quick ratio of 2.59.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.09. Cactus had a net margin of 16.88% and a return on equity of 21.22%. The business had revenue of $290.39 million during the quarter, compared to analysts’ expectations of $276.76 million. During the same quarter in the prior year, the business posted $0.84 EPS. The company’s revenue for the quarter was down 5.0% on a year-over-year basis.

Hedge Funds Weigh In On Cactus

Several institutional investors have recently bought and sold shares of WHD. Gilbert & Cook Inc. boosted its holdings in shares of Cactus by 10.3% in the fourth quarter. Gilbert & Cook Inc. now owns 13,664 shares of the company’s stock valued at $620,000 after acquiring an additional 1,272 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Cactus by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 592,264 shares of the company’s stock worth $26,889,000 after purchasing an additional 19,734 shares during the period. Principal Securities Inc. purchased a new position in shares of Cactus during the 4th quarter worth approximately $30,000. Dimensional Fund Advisors LP raised its stake in shares of Cactus by 7.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,049,429 shares of the company’s stock worth $47,645,000 after buying an additional 73,704 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Cactus by 10.7% in the 4th quarter. Principal Financial Group Inc. now owns 7,484 shares of the company’s stock valued at $340,000 after buying an additional 726 shares during the period. 85.11% of the stock is owned by institutional investors and hedge funds.

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.82%. This is a positive change from Cactus’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, August 26th. Cactus’s dividend payout ratio (DPR) is 20.72%.

About Cactus

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.