We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cactus, Inc. (WHD) Moves 6.7% Higher: Will This Strength Last?
Read MoreHide Full Article
Cactus, Inc. (WHD - Free Report) shares rallied 6.7% in the last trading session to close at $39.24. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 14.9% gain over the past four weeks.
Cactus has seen a five-consecutive-day stretch of price increase on increased optimism over the accelerated recovery in the energy sector following the massive improvement in oil prices. With more explorers returning to onshore resources following crude price recovery, the demand for the company’s highly engineered wellhead and pressure control equipment is increasing. Moreover, Cactus can rely on its strong balance sheet, which is free of debt, which will help it sail through the pandemic uncertainty.
Price and Consensus
This company is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of +80%. Revenues are expected to be $102.5 million, up 54% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Cactus, Inc., the consensus EPS estimate for the quarter has been revised 12.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on WHD going forward to see if this recent jump can turn into more strength down the road.
Image: Bigstock
Cactus, Inc. (WHD) Moves 6.7% Higher: Will This Strength Last?
Cactus, Inc. (WHD - Free Report) shares rallied 6.7% in the last trading session to close at $39.24. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 14.9% gain over the past four weeks.
Cactus has seen a five-consecutive-day stretch of price increase on increased optimism over the accelerated recovery in the energy sector following the massive improvement in oil prices. With more explorers returning to onshore resources following crude price recovery, the demand for the company’s highly engineered wellhead and pressure control equipment is increasing. Moreover, Cactus can rely on its strong balance sheet, which is free of debt, which will help it sail through the pandemic uncertainty.
Price and Consensus
This company is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of +80%. Revenues are expected to be $102.5 million, up 54% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Cactus, Inc., the consensus EPS estimate for the quarter has been revised 12.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on WHD going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>