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Cactus (WHD) Soars 5.7%: Is Further Upside Left in the Stock?
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Cactus, Inc. (WHD - Free Report) shares soared 5.7% in the last trading session to close at $49.69. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.2% gain over the past four weeks.
Cactus' shares rallied on the last trading day as investor sentiment strengthened following its agreement to acquire a 65% stake in Baker Hughes’ Surface Pressure Control business. The transaction expands Cactus’ global footprint and customer base while providing increased revenue visibility, supported by a project backlog of more than $600 million. This added scale and backlog are reinforcing expectations for more stable and sustainable growth.
This company is expected to post quarterly earnings of $0.58 per share in its upcoming report, which represents a year-over-year change of -18.3%. Revenues are expected to be $250.63 million, down 7.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Cactus, the consensus EPS estimate for the quarter has been revised 0.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate 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.
Cactus belongs to the Zacks Oil and Gas - Integrated - United States industry. Another stock from the same industry, National Fuel Gas (NFG - Free Report) , closed the last trading session 0.1% lower at $81.97. Over the past month, NFG has returned 0.3%.
For National Fuel Gas, the consensus EPS estimate for the upcoming report has changed +4.8% over the past month to $1.95. This represents a change of +17.5% from what the company reported a year ago. National Fuel Gas currently has a Zacks Rank of #3 (Hold).
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Cactus (WHD) Soars 5.7%: Is Further Upside Left in the Stock?
Cactus, Inc. (WHD - Free Report) shares soared 5.7% in the last trading session to close at $49.69. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.2% gain over the past four weeks.
Cactus' shares rallied on the last trading day as investor sentiment strengthened following its agreement to acquire a 65% stake in Baker Hughes’ Surface Pressure Control business. The transaction expands Cactus’ global footprint and customer base while providing increased revenue visibility, supported by a project backlog of more than $600 million. This added scale and backlog are reinforcing expectations for more stable and sustainable growth.
This company is expected to post quarterly earnings of $0.58 per share in its upcoming report, which represents a year-over-year change of -18.3%. Revenues are expected to be $250.63 million, down 7.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Cactus, the consensus EPS estimate for the quarter has been revised 0.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate 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 #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Cactus belongs to the Zacks Oil and Gas - Integrated - United States industry. Another stock from the same industry, National Fuel Gas (NFG - Free Report) , closed the last trading session 0.1% lower at $81.97. Over the past month, NFG has returned 0.3%.
For National Fuel Gas, the consensus EPS estimate for the upcoming report has changed +4.8% over the past month to $1.95. This represents a change of +17.5% from what the company reported a year ago. National Fuel Gas currently has a Zacks Rank of #3 (Hold).