Cactus (NYSE:WHD) Posts Earnings Results
Cactus (NYSE:WHD) announced its earnings results on Wednesday. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.01 by $0.09, MarketWatch Earnings reports. Cactus had a return on equity of 18.65% and a net margin of 12.47%. The company had revenue of $66.55 million for the quarter, compared to analyst estimates of $60.29 million. During the same quarter in the prior year, the company earned $0.52 EPS. The firm’s revenue for the quarter was down 60.5% compared to the same quarter last year.
Shares of WHD traded down $0.46 on Thursday, reaching $22.45. 32,030 shares of the company’s stock traded hands, compared to its average volume of 322,153. The company has a current ratio of 5.35, a quick ratio of 4.11 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.67 billion, a PE ratio of 13.97 and a beta of 2.49. The stock’s 50 day simple moving average is $20.52 and its two-hundred day simple moving average is $20.83. Cactus has a 52-week low of $8.16 and a 52-week high of $35.28.
WHD has been the topic of several research analyst reports. ValuEngine upgraded Cactus from a “sell” rating to a “hold” rating in a research report on Monday, May 4th. Credit Suisse Group upped their price target on Cactus from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Bank of America raised Cactus from an “underperform” rating to a “neutral” rating and set a $21.00 price target on the stock in a research note on Thursday, May 28th. Raymond James upped their price target on Cactus from $22.00 to $24.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 13th. Finally, Stephens upped their price target on Cactus from $17.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $20.36.
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, frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.
Recommended Story: Why are analyst ratings important in trading stocks?
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.