Zacks: Analysts Expect Cactus, Inc. (NYSE:WHD) Will Announce Quarterly Sales of $122.15 Million

Wall Street brokerages forecast that Cactus, Inc. (NYSE:WHD) will report $122.15 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Cactus’ earnings, with the highest sales estimate coming in at $122.40 million and the lowest estimate coming in at $121.90 million. Cactus posted sales of $68.09 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 79.4%. The company is expected to report its next earnings results on Wednesday, February 23rd.

On average, analysts expect that Cactus will report full year sales of $431.55 million for the current year, with estimates ranging from $430.50 million to $433.15 million. For the next fiscal year, analysts forecast that the company will post sales of $603.11 million, with estimates ranging from $573.94 million to $623.50 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Cactus.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, November 3rd. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. Cactus had a net margin of 10.02% and a return on equity of 5.33%. During the same quarter in the previous year, the company posted $0.13 earnings per share.

Several equities analysts recently weighed in on the stock. Citigroup raised their target price on shares of Cactus from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 11th. Barclays raised their target price on shares of Cactus from $42.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, October 25th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $38.67.

Shares of NYSE:WHD traded down $0.55 during midday trading on Friday, hitting $38.51. The stock had a trading volume of 164,790 shares, compared to its average volume of 413,068. Cactus has a 12 month low of $23.03 and a 12 month high of $46.94. The company has a quick ratio of 5.24, a current ratio of 5.59 and a debt-to-equity ratio of 0.01. The business’s 50-day simple moving average is $40.49 and its 200-day simple moving average is $38.07. The company has a market cap of $2.92 billion, a P/E ratio of 59.25 and a beta of 2.32.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 16th. Shareholders of record on Monday, November 29th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.04%. The ex-dividend date is Friday, November 26th. Cactus’s dividend payout ratio is 61.54%.

A number of institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. acquired a new stake in shares of Cactus during the second quarter worth $28,000. Point72 Hong Kong Ltd acquired a new stake in shares of Cactus during the third quarter worth $44,000. PNC Financial Services Group Inc. raised its stake in Cactus by 55.4% in the third quarter. PNC Financial Services Group Inc. now owns 1,803 shares of the company’s stock valued at $68,000 after purchasing an additional 643 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in Cactus in the second quarter valued at about $73,000. Finally, Captrust Financial Advisors raised its stake in Cactus by 157.8% in the first quarter. Captrust Financial Advisors now owns 2,526 shares of the company’s stock valued at $77,000 after purchasing an additional 1,546 shares in the last quarter. 77.10% of the stock is owned by institutional investors and hedge funds.

Cactus Company Profile

Cactus, Inc is a holding company, which engages in the design, manufacture and sale of wellhead and pressure control equipment. Its products include Cactus SafeDrill wellhead systems as well as frac stacks, Cactus SafeLink monobore, SafeClamp and SafeInject systems. It also offers field services for its products and rental items to assist with the installation, maintenance, and handling of the wellhead and pressure control equipment.

See Also: Google Finance

Get a free copy of the Zacks research report on Cactus (WHD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Cactus (NYSE:WHD)

Receive News & Ratings for Cactus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cactus and related companies with MarketBeat.com's FREE daily email newsletter.