Cactus (NYSE:WHD) Announces Earnings Results

Cactus (NYSE:WHD) announced its quarterly earnings results on Wednesday. The company reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74, Briefing.com reports. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The company had revenue of $293.18 million during the quarter, compared to the consensus estimate of $287.47 million. During the same period in the previous year, the company posted $0.80 earnings per share. Cactus’s revenue for the quarter was up 1.8% on a year-over-year basis.

Cactus Price Performance

NYSE WHD traded up $0.20 during mid-day trading on Wednesday, hitting $57.29. The stock had a trading volume of 645,437 shares, compared to its average volume of 734,561. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.75 and a quick ratio of 2.59. The firm’s 50 day moving average is $59.74 and its 200 day moving average is $55.72. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 2.79 and a beta of 1.95. Cactus has a twelve month low of $37.58 and a twelve month high of $64.96.

Wall Street Analyst Weigh In

WHD has been the subject of several research analyst reports. Piper Sandler reduced their target price on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Bank of America upped their target price on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research note on Monday, October 14th. Barclays upped their target price on Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Citigroup upped their target price on Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus reduced their target price on Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.40.

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.