Wall Street brokerages expect Cactus Inc (NYSE:WHD) to announce $149.41 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Cactus’ earnings, with estimates ranging from $148.82 million to $150.00 million. Cactus posted sales of $104.78 million during the same quarter last year, which suggests a positive year over year growth rate of 42.6%. The business is expected to announce its next quarterly earnings results on Friday, March 8th.
On average, analysts expect that Cactus will report full year sales of $553.85 million for the current fiscal year, with estimates ranging from $553.13 million to $554.43 million. For the next year, analysts anticipate that the business will report sales of $647.05 million, with estimates ranging from $633.62 million to $658.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Cactus.
Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, October 31st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Cactus had a net margin of 11.31% and a return on equity of 51.28%. The business had revenue of $150.70 million for the quarter, compared to analyst estimates of $146.35 million. The firm’s revenue was up 57.0% on a year-over-year basis.
A number of brokerages recently commented on WHD. Johnson Rice upgraded shares of Cactus from an “accumulate” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Thursday, August 30th. Bank of America initiated coverage on shares of Cactus in a research report on Monday, December 3rd. They issued a “buy” rating and a $36.00 target price for the company. ValuEngine downgraded shares of Cactus from a “hold” rating to a “sell” rating in a research report on Monday, October 22nd. Citigroup raised their target price on shares of Cactus from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, September 14th. Finally, Zacks Investment Research raised shares of Cactus from a “hold” rating to a “strong-buy” rating and set a $44.00 target price for the company in a research report on Thursday, October 4th. One analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Cactus currently has a consensus rating of “Buy” and an average target price of $39.40.
A number of institutional investors have recently added to or reduced their stakes in WHD. Legal & General Group Plc bought a new position in Cactus in the first quarter valued at $111,000. Royal Bank of Canada bought a new position in shares of Cactus in the 1st quarter valued at about $115,000. Acadian Asset Management LLC bought a new position in shares of Cactus in the 2nd quarter valued at about $1,943,000. Wells Fargo & Company MN grew its position in shares of Cactus by 91.1% in 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 bought a new position in shares of Cactus in the 2nd quarter valued at about $6,961,000. 50.74% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:WHD traded down $0.47 during midday trading on Monday, reaching $29.37. 627,775 shares of the company were exchanged, compared to its average volume of 544,980. Cactus has a fifty-two week low of $19.18 and a fifty-two week high of $40.97. The company has a quick ratio of 2.28, a current ratio of 3.52 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.23 billion and a price-to-earnings ratio of 0.02.
Cactus Company Profile
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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