Cactus (NYSE:WHD) Issues Earnings Results, Hits Expectations

Cactus (NYSE:WHD) issued its earnings results on Wednesday. The company reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74, Briefing.com reports. Cactus had a net margin of 16.57% and a return on equity of 20.72%. The company had revenue of $293.18 million for the quarter, compared to analyst estimates of $287.47 million. During the same period in the prior year, the business posted $0.80 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year.

Cactus Trading Up 3.6 %

Cactus stock opened at $59.30 on Friday. The stock has a market cap of $4.72 billion, a PE ratio of 21.03, a P/E/G ratio of 2.74 and a beta of 1.95. Cactus has a 52 week low of $37.58 and a 52 week high of $64.96. The company has a current ratio of 3.75, a quick ratio of 2.59 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $59.73 and a 200 day moving average price of $55.73.

Analyst Ratings Changes

WHD has been the topic of several research analyst reports. Piper Sandler decreased their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Citigroup upped their target price on Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Barclays lifted their price target on Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Stifel Nicolaus lowered their price objective on shares of Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Finally, Bank of America lifted their target price on shares of Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.40.

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.