Cactus Inc (WHD) Expected to Announce Quarterly Sales of $149.41 Million

Equities research analysts forecast that Cactus Inc (NYSE:WHD) will report $149.41 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Cactus’ earnings, with the lowest sales estimate coming in at $148.82 million and the highest estimate coming in at $150.00 million. Cactus posted sales of $104.78 million in the same quarter last year, which would indicate a positive year over year growth rate of 42.6%. The company is expected to announce its next quarterly earnings results on Friday, March 8th.

According to Zacks, 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 fiscal year, analysts anticipate that the business will post sales of $647.05 million, with estimates ranging from $633.62 million to $658.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Cactus.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, October 31st. The company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $146.35 million. The firm’s quarterly revenue was up 57.0% compared to the same quarter last year.

Several brokerages have recently commented on WHD. Johnson Rice raised shares of Cactus from an “accumulate” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Thursday, August 30th. Barclays set a $39.00 target price on shares of Cactus and gave the stock a “buy” rating in a report on Sunday, August 5th. ValuEngine cut shares of Cactus from a “hold” rating to a “sell” rating in a report on Monday, October 22nd. Piper Jaffray Companies set a $37.00 target price on shares of Cactus and gave the stock a “buy” rating in a report on Thursday, August 9th. Finally, Citigroup raised their target price on shares of Cactus from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, September 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $38.80.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in shares of Cactus by 22.2% during the 2nd quarter. BlackRock Inc. now owns 2,332,388 shares of the company’s stock worth $78,811,000 after acquiring an additional 423,339 shares in the last quarter. Swiss National Bank acquired a new stake in Cactus in the second quarter valued at approximately $1,554,000. Public Employees Retirement Association of Colorado boosted its position in Cactus by 50.7% in the third quarter. Public Employees Retirement Association of Colorado now owns 310,500 shares of the company’s stock valued at $11,886,000 after buying an additional 104,500 shares in the last quarter. Viking Fund Management LLC acquired a new stake in Cactus in the third quarter valued at approximately $5,359,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Cactus in the second quarter valued at approximately $315,000. Institutional investors and hedge funds own 47.17% of the company’s stock.

Shares of WHD opened at $28.88 on Monday. Cactus has a 12 month low of $19.18 and a 12 month high of $40.97. The company has a market cap of $2.16 billion and a PE ratio of 0.02. The company has a current ratio of 3.52, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03.

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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