Cactus Inc (NYSE:WHD) – Analysts at Piper Sandler upped their Q3 2020 earnings per share (EPS) estimates for shares of Cactus in a research note issued on Wednesday, June 24th. Piper Sandler analyst I. Macpherson now expects that the company will post earnings of ($0.06) per share for the quarter, up from their prior forecast of ($0.07). Piper Sandler has a “Overweight” rating and a $20.00 price objective on the stock. Piper Sandler also issued estimates for Cactus’ Q4 2020 earnings at ($0.06) EPS, FY2020 earnings at $0.32 EPS, Q1 2021 earnings at ($0.04) EPS, Q2 2021 earnings at ($0.02) EPS, Q3 2021 earnings at ($0.01) EPS, Q4 2021 earnings at $0.03 EPS and FY2021 earnings at ($0.05) EPS.
Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. Cactus had a return on equity of 18.65% and a net margin of 12.47%. The firm had revenue of $154.14 million during the quarter, compared to the consensus estimate of $141.89 million. During the same period last year, the company earned $0.49 earnings per share. The company’s revenue was down 3.0% on a year-over-year basis.
Several other equities analysts also recently weighed in on WHD. Stifel Nicolaus initiated coverage on Cactus in a report on Thursday, June 4th. They set a “hold” rating and a $20.00 price target for the company. Citigroup lifted their price objective on Cactus from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Royal Bank of Canada reiterated a “buy” rating and issued a $15.00 price objective on shares of Cactus in a report on Monday, April 6th. Zacks Investment Research downgraded Cactus from a “hold” rating to a “strong sell” rating in a report on Saturday, March 28th. Finally, Barclays downgraded Cactus from an “overweight” rating to an “equal weight” rating and set a $14.00 price objective for the company. in a report on Thursday, May 14th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $19.82.
Shares of NYSE:WHD opened at $19.77 on Monday. Cactus has a 1-year low of $8.16 and a 1-year high of $35.28. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.35 and a quick ratio of 4.11. The business has a fifty day moving average price of $19.25 and a 200-day moving average price of $22.75. The company has a market capitalization of $1.49 billion, a PE ratio of 12.05 and a beta of 2.49.
A number of large investors have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Cactus by 1,825.0% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,309 shares of the company’s stock valued at $45,000 after purchasing an additional 1,241 shares during the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of Cactus during the 4th quarter valued at approximately $51,000. Advisor Group Holdings Inc. bought a new position in shares of Cactus during the 1st quarter valued at approximately $26,000. Great West Life Assurance Co. Can bought a new position in shares of Cactus during the 4th quarter valued at approximately $116,000. Finally, Fifth Third Bancorp bought a new position in shares of Cactus during the 1st quarter valued at approximately $51,000. 63.89% of the stock is currently owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 1st were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Friday, May 29th. Cactus’s payout ratio is 19.35%.
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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