Cactus, Inc. (WHD) to Issue Quarterly Dividend of $0.15 on September 11th

Cactus, Inc. (NYSE:WHD) declared a quarterly dividend on Wednesday, July 29th. Investors of record on Monday, August 31st will be paid a dividend of 0.15 per share on Friday, September 11th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, August 31st. This is a 7.1% increase from Cactus’s previous quarterly dividend of $0.14.

Cactus has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Cactus has a payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cactus to earn $3.58 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 15.6%.

Cactus Stock Up 18.6%

WHD opened at $62.06 on Friday. The business’s fifty day simple moving average is $55.46 and its 200 day simple moving average is $54.23. Cactus has a 52 week low of $33.20 and a 52 week high of $64.30. The company has a quick ratio of 1.71, a current ratio of 2.61 and a debt-to-equity ratio of 0.01. The stock has a market cap of $4.98 billion, a PE ratio of 53.04, a P/E/G ratio of 1.97 and a beta of 1.38.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.29. The firm had revenue of $449.53 million during the quarter, compared to analyst estimates of $400.82 million. Cactus had a return on equity of 16.81% and a net margin of 6.01%.The company’s revenue was up 64.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. As a group, research analysts expect that Cactus will post 2.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays upped their target price on Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Piper Sandler boosted their price objective on shares of Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Citigroup upped their price objective on shares of Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 target price (up from $66.00) on shares of Cactus in a report on Tuesday, June 16th. Finally, Weiss Ratings raised shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.60.

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.