Brokerages forecast that Cactus, Inc. (NYSE:WHD) will announce sales of $54.36 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Cactus' earnings, with estimates ranging from $52.00 million to $56.00 million. Cactus reported sales of $160.81 million in the same quarter last year, which indicates a negative year-over-year growth rate of 66.2%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, November 4th.
According to Zacks, analysts expect that Cactus will report full year sales of $332.42 million for the current financial year, with estimates ranging from $330.90 million to $334.00 million. For the next fiscal year, analysts forecast that the company will post sales of $316.21 million, with estimates ranging from $281.00 million to $342.99 million. Zacks' sales averages are a mean average based on a survey of research analysts that cover Cactus.
Cactus (NYSE:WHD) last issued its earnings results on Wednesday, July 29th. The company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.01 by $0.09. The business had revenue of $66.55 million for the quarter, compared to analysts' expectations of $60.29 million. Cactus had a return on equity of 14.25% and a net margin of 11.96%. The business's revenue for the quarter was down 60.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS.
Several brokerages have recently weighed in on WHD. Stifel Nicolaus upgraded Cactus from a "hold" rating to a "buy" rating and boosted their target price for the stock from $20.00 to $28.00 in a report on Friday, July 31st. Credit Suisse Group boosted their target price on Cactus from $19.00 to $22.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Raymond James boosted their target price on Cactus from $24.00 to $26.00 and gave the stock a "strong-buy" rating in a report on Friday, July 31st. Scotiabank began coverage on Cactus in a report on Tuesday, September 15th. They issued a "sector perform" rating and a $22.00 price objective on the stock. Finally, Citigroup upped their price objective on Cactus from $21.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, August 25th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Cactus has an average rating of "Buy" and a consensus target price of $22.92.
A number of large investors have recently added to or reduced their stakes in WHD. Boston Trust Walden Corp acquired a new position in Cactus during the third quarter worth $12,859,000. Wasatch Advisors Inc. acquired a new position in Cactus during the second quarter worth $11,577,000. Alyeska Investment Group L.P. acquired a new position in Cactus during the second quarter worth $8,252,000. Bank of New York Mellon Corp lifted its stake in Cactus by 25.8% during the second quarter. Bank of New York Mellon Corp now owns 1,855,056 shares of the company's stock worth $38,270,000 after purchasing an additional 380,800 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Cactus during the second quarter worth $4,099,000. Institutional investors own 62.66% of the company's stock.
Shares of Cactus stock opened at $18.25 on Tuesday. The stock has a market cap of $1.38 billion, a P/E ratio of 14.04 and a beta of 2.34. The stock's 50 day simple moving average is $20.17 and its 200-day simple moving average is $19.49. 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 7.09 and a quick ratio of 5.55.
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, Cactus SafeLink 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, repair, and safe handling of the wellhead and pressure control equipment.
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