Cactus (NYSE:WHD) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Cactus (NYSE:WHD) posted its quarterly earnings results on Wednesday. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08, Briefing.com reports. The firm had revenue of $274.12 million for the quarter, compared to analyst estimates of $270.70 million. Cactus had a net margin of 15.42% and a return on equity of 22.69%. Cactus’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 earnings per share.

Cactus Stock Up 3.6 %

NYSE:WHD traded up $1.76 during midday trading on Thursday, reaching $51.30. The company had a trading volume of 623,669 shares, compared to its average volume of 604,139. Cactus has a 12-month low of $31.36 and a 12-month high of $57.00. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 8.93 and a beta of 1.95. The company has a current ratio of 3.17, a quick ratio of 2.00 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $48.99 and its 200-day simple moving average is $45.59.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WHD. Benchmark lowered Cactus from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Stifel Nicolaus dropped their target price on Cactus from $68.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, January 3rd. Finally, Bank of America lifted their price target on Cactus from $40.00 to $43.00 and gave the stock an “underperform” rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Cactus presently has a consensus rating of “Hold” and a consensus price target of $55.29.

Insiders Place Their Bets

In other news, CEO Scott Bender sold 78,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $45.79, for a total transaction of $3,571,620.00. Following the completion of the transaction, the chief executive officer now directly owns 20 shares of the company’s stock, valued at $915.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Scott Bender sold 78,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $45.79, for a total transaction of $3,571,620.00. Following the completion of the transaction, the chief executive officer now owns 20 shares in the company, valued at $915.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP William D. Marsh sold 1,700 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $46.20, for a total value of $78,540.00. Following the transaction, the executive vice president now directly owns 3,911 shares of the company’s stock, valued at $180,688.20. The disclosure for this sale can be found here. 17.72% of the stock is owned by company insiders.

Cactus Company Profile

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers.