Research Analysts Offer Predictions for Cactus, Inc.’s FY2024 Earnings (NYSE:WHD)

Cactus, Inc. (NYSE:WHD) – Analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for Cactus in a report issued on Wednesday, September 18th. Zacks Research analyst R. Department now expects that the company will post earnings per share of $3.03 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.

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

Other equities analysts have also recently issued research reports about the stock. Piper Sandler lowered their price objective on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Barclays lifted their price objective on Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Johnson Rice downgraded Cactus from a “buy” rating to an “accumulate” rating in a report on Friday, May 31st. Finally, Citigroup raised their target price on Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. One investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $54.00.

Cactus Price Performance

Shares of WHD opened at $63.46 on Friday. The firm has a 50-day simple moving average of $58.96 and a two-hundred day simple moving average of $53.48. The stock has a market cap of $5.05 billion, a PE ratio of 25.28, a P/E/G 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 Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its position in shares of Cactus by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 592,264 shares of the company’s stock worth $26,889,000 after buying an additional 19,734 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Cactus by 41.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 323,485 shares of the company’s stock valued at $16,203,000 after purchasing an additional 94,704 shares during the last quarter. Keeley Teton Advisors LLC raised its holdings in shares of Cactus by 24.0% in the 4th quarter. Keeley Teton Advisors LLC now owns 98,118 shares of the company’s stock valued at $4,455,000 after purchasing an additional 18,962 shares in the last quarter. Norden Group LLC raised its holdings in shares of Cactus by 1,182.8% in the 1st quarter. Norden Group LLC now owns 117,252 shares of the company’s stock valued at $5,873,000 after purchasing an additional 108,112 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Cactus by 595.4% during the 4th quarter. First Trust Advisors LP now owns 683,051 shares of the company’s stock worth $31,011,000 after purchasing an additional 584,831 shares during the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Cactus Company Profile

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.