Zacks: Brokerages Expect Cactus Inc (WHD) to Announce $0.46 EPS

Wall Street brokerages forecast that Cactus Inc (NYSE:WHD) will post earnings of $0.46 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Cactus’ earnings, with estimates ranging from $0.45 to $0.48. Cactus posted earnings per share of $431.40 in the same quarter last year, which would suggest a negative year over year growth rate of 99.9%. The firm is scheduled to issue its next earnings results on Friday, March 8th.

According to Zacks, analysts expect that Cactus will report full-year earnings of $1.74 per share for the current fiscal year, with EPS estimates ranging from $1.63 to $1.80. For the next year, analysts anticipate that the business will post earnings of $1.85 per share, with EPS estimates ranging from $1.26 to $2.19. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that that provide coverage for Cactus.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.03. Cactus had a net margin of 11.31% and a return on equity of 51.28%. The company had revenue of $150.70 million for the quarter, compared to analyst estimates of $146.35 million. Cactus’s quarterly revenue was up 57.0% on a year-over-year basis.

A number of research firms have recently commented on WHD. Johnson Rice raised shares of Cactus from an “accumulate” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Thursday, August 30th. Bank of America began coverage on shares of Cactus in a research note on Monday, December 3rd. They issued a “buy” rating and a $36.00 price objective on the stock. ValuEngine lowered shares of Cactus from a “hold” rating to a “sell” rating in a research note on Monday, October 22nd. Citigroup upped their price objective on shares of Cactus from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, September 14th. Finally, Zacks Investment Research upgraded shares of Cactus from a “hold” rating to a “strong-buy” rating and set a $44.00 target price on the stock in a research report on Thursday, October 4th. One analyst has rated the stock with a sell rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $39.40.

Several institutional investors have recently added to or reduced their stakes in WHD. Legal & General Group Plc acquired a new position in shares of Cactus during the 1st quarter valued at $111,000. Royal Bank of Canada acquired a new position in shares of Cactus during the 1st quarter valued at $115,000. Acadian Asset Management LLC acquired a new position in shares of Cactus during the 2nd quarter valued at $1,943,000. Wells Fargo & Company MN lifted its position in shares of Cactus by 91.1% during the 2nd quarter. Wells Fargo & Company MN now owns 279,445 shares of the company’s stock valued at $9,443,000 after acquiring an additional 133,213 shares during the period. Finally, Public Employees Retirement Association of Colorado acquired a new position in shares of Cactus during the 2nd quarter valued at $6,961,000. Institutional investors own 50.74% of the company’s stock.

Shares of NYSE:WHD traded down $0.47 during trading on Friday, reaching $29.37. The stock had a trading volume of 627,775 shares, compared to its average volume of 544,980. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 3.52. Cactus has a 52 week low of $19.18 and a 52 week high of $40.97. The firm has a market cap of $2.23 billion and a P/E ratio of 0.02.

About Cactus

Cactus, Inc engages in the design, manufacture, sale and rent out of a range of engineered wellhead and pressure control equipment. The products of the firm are sold and rented principally for onshore unconventional oil and gas wells, and are utilized during the drilling, completion, and production phase of wells.

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