Equities research analysts forecast that Cactus Inc (NYSE:WHD) will announce $162.83 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Cactus’ earnings, with the lowest sales estimate coming in at $161.72 million and the highest estimate coming in at $164.00 million. Cactus posted sales of $150.66 million during the same quarter last year, which indicates a positive year over year growth rate of 8.1%. The firm is expected to issue its next earnings results on Wednesday, October 30th.
On average, analysts expect that Cactus will report full year sales of $646.04 million for the current fiscal year, with estimates ranging from $641.23 million to $652.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $695.23 million, with estimates ranging from $654.58 million to $782.33 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Cactus.
Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The company had revenue of $168.50 million for the quarter, compared to analysts’ expectations of $162.27 million. Cactus had a net margin of 13.56% and a return on equity of 34.10%. Cactus’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share.
Several analysts have issued reports on the company. ValuEngine lowered Cactus from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Raymond James dropped their price objective on Cactus from $42.00 to $40.00 and set a “strong-buy” rating for the company in a research note on Friday, August 2nd. Zacks Investment Research lowered Cactus from a “strong-buy” rating to a “hold” rating in a research note on Saturday, June 15th. Piper Jaffray Companies dropped their price objective on Cactus from $42.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, June 18th. Finally, Citigroup dropped their price objective on Cactus from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Cactus currently has an average rating of “Buy” and an average price target of $40.00.
Shares of WHD stock traded down $0.86 during trading on Friday, hitting $28.55. The company had a trading volume of 10,720 shares, compared to its average volume of 588,705. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 2.60 and a beta of 1.15. The stock’s 50-day moving average is $27.56 and its two-hundred day moving average is $32.30. The company has a quick ratio of 2.74, a current ratio of 3.92 and a debt-to-equity ratio of 0.05. Cactus has a 52 week low of $24.23 and a 52 week high of $40.97.
Several large investors have recently added to or reduced their stakes in WHD. Parallel Advisors LLC bought a new position in shares of Cactus during the second quarter valued at approximately $36,000. HMS Capital Management LLC bought a new position in Cactus in the second quarter worth $49,000. US Bancorp DE raised its holdings in Cactus by 20.8% in the second quarter. US Bancorp DE now owns 2,961 shares of the company’s stock worth $98,000 after purchasing an additional 510 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Cactus by 87.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,387 shares of the company’s stock worth $112,000 after purchasing an additional 1,582 shares in the last quarter. Finally, Aperio Group LLC bought a new position in Cactus in the second quarter worth $238,000. 64.30% of the stock is owned by hedge funds and other institutional investors.
Cactus Company Profile
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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