Cactus (NYSE:WHD) Releases Earnings Results, Beats Expectations By $0.07 EPS

Cactus (NYSE:WHD) released its quarterly earnings data on Wednesday. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.58 by $0.07, Zacks reports. Cactus had a net margin of 15.86% and a return on equity of 16.02%.

Cactus Price Performance

Shares of NYSE WHD traded down $0.30 during midday trading on Wednesday, hitting $57.98. 1,009,806 shares of the company’s stock were exchanged, compared to its average volume of 947,614. The company has a current ratio of 5.28, a quick ratio of 3.74 and a debt-to-equity ratio of 0.01. The business’s fifty day moving average price is $52.71 and its two-hundred day moving average price is $45.07. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 5.79 and a beta of 1.27. Cactus has a 12-month low of $33.20 and a 12-month high of $59.22.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, March 2nd. Cactus’s dividend payout ratio (DPR) is 22.31%.

Hedge Funds Weigh In On Cactus

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mariner LLC purchased a new position in Cactus in the fourth quarter worth $254,000. Cibc World Markets Corp purchased a new stake in Cactus during the fourth quarter valued at about $207,000. Bank of Montreal Can bought a new stake in Cactus during the fourth quarter worth about $208,000. CIBC Bancorp USA Inc. purchased a new position in shares of Cactus in the 3rd quarter worth about $289,000. Finally, Vise Technologies Inc. boosted its holdings in shares of Cactus by 11.3% in the 3rd quarter. Vise Technologies Inc. now owns 6,858 shares of the company’s stock worth $271,000 after purchasing an additional 699 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on WHD shares. Bank of America upgraded Cactus from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $39.00 to $40.00 in a research report on Wednesday, October 29th. Zacks Research lowered Cactus from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Barclays increased their price objective on Cactus from $51.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, December 17th. Piper Sandler began coverage on Cactus in a research report on Tuesday. They set an “overweight” rating and a $73.00 price target on the stock. Finally, Stifel Nicolaus increased their price target on shares of Cactus from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $54.00.

About Cactus

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.