Cactus (NYSE:WHD) Releases Earnings Results, Beats Expectations By $0.19 EPS

Cactus (NYSE:WHD) posted its earnings results on Wednesday. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.19, FiscalAI reports. Cactus had a return on equity of 18.24% and a net margin of 6.69%. The company had revenue of $430.89 million during the quarter, compared to analyst estimates of $437.94 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. Cactus’s revenue was up 63.2% on a year-over-year basis.

Cactus Stock Performance

WHD traded down $0.66 during trading on Friday, hitting $64.83. The company’s stock had a trading volume of 188,263 shares, compared to its average volume of 851,833. The company has a quick ratio of 1.81, a current ratio of 2.59 and a debt-to-equity ratio of 0.01. The business’s 50 day simple moving average is $65.97 and its 200-day simple moving average is $58.27. The firm has a market cap of $5.20 billion, a PE ratio of 45.03, a P/E/G ratio of 1.71 and a beta of 1.42. Cactus has a one year low of $39.16 and a one year high of $74.07.

Cactus Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Monday, November 30th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, November 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. Cactus’s payout ratio is currently 41.67%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Stifel Nicolaus lifted their price objective on Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a report on Tuesday, September 8th. Piper Sandler upped their target price on Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded Cactus from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Barclays raised their price objective on shares of Cactus from $74.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.25.

Insider Activity at Cactus

In related news, President Joel Bender sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $70.37, for a total transaction of $7,037,000.00. Following the completion of the transaction, the president owned 41,519 shares in the company, valued at $2,921,692.03. The trade was a 70.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Stephen Tadlock sold 38,455 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $63.80, for a total value of $2,453,429.00. Following the transaction, the chief executive officer owned 43,178 shares in the company, valued at approximately $2,754,756.40. This trade represents a 47.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 363,455 shares of company stock valued at $23,767,679. 12.91% of the stock is currently owned by insiders.

About Cactus

Cactus, Inc (NYSE: WHD) designs, manufactures, sells and rents wellhead and pressure-control equipment used in onshore oil and gas drilling and production. Its products are designed to help operators manage pressure and control access to wells during drilling, completion and production activities.

The company’s offerings include wellhead systems, frac stacks, zipper manifolds and other pressure-control equipment. Cactus also provides field services, including equipment installation, maintenance and support, as well as rental services for selected products.