Cactus (NYSE:WHD) Posts Earnings Results, Beats Estimates By $0.05 EPS

Cactus (NYSE:WHD) issued its quarterly earnings results on Wednesday. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05, FiscalAI reports. Cactus had a net margin of 15.39% and a return on equity of 15.18%. The firm had revenue of $388.35 million for the quarter, compared to analyst estimates of $380.42 million. During the same quarter in the prior year, the firm earned $0.73 EPS. The business’s revenue for the quarter was up 38.5% compared to the same quarter last year.

Cactus Trading Up 0.2%

WHD stock traded up $0.11 during midday trading on Friday, hitting $56.24. The company had a trading volume of 74,329 shares, compared to its average volume of 981,498. The company has a current ratio of 5.81, a quick ratio of 4.13 and a debt-to-equity ratio of 0.01. Cactus has a 52 week low of $33.20 and a 52 week high of $59.25. The stock’s 50 day moving average price is $51.13 and its 200 day moving average price is $49.15. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 2.08 and a beta of 1.37.

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 1st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, June 1st. Cactus’s payout ratio is 23.33%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Zacks Research lowered shares of Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Wall Street Zen lowered Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Barclays upped their price objective on Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Citigroup increased their price objective on Cactus from $55.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a research report on Friday, March 27th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $56.33.

Insider Activity

In other news, President Joel Bender sold 106,809 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $49.92, for a total value of $5,331,905.28. Following the transaction, the president owned 27,793 shares in the company, valued at approximately $1,387,426.56. This trade represents a 79.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 200,000 shares of company stock valued at $10,039,080 in the last quarter. 12.91% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cactus

Several institutional investors have recently added to or reduced their stakes in WHD. Advisors Asset Management Inc. grew its stake in shares of Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after purchasing an additional 543 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Cactus by 101.1% in the 1st quarter. AQR Capital Management LLC now owns 11,427 shares of the company’s stock worth $524,000 after buying an additional 5,745 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Cactus by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,685 shares of the company’s stock valued at $1,819,000 after buying an additional 1,733 shares during the period. United Services Automobile Association purchased a new position in shares of Cactus during the first quarter valued at approximately $203,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Cactus by 26.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,931 shares of the company’s stock valued at $10,400,000 after acquiring an additional 46,835 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

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