Cactus (NYSE:WHD) Posts Earnings Results, Beats Estimates By $0.07 EPS

Cactus (NYSE:WHD) posted its quarterly earnings data on Wednesday. The company reported $0.65 earnings per share 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 Stock Performance

Shares of NYSE:WHD traded down $0.30 during mid-day trading on Wednesday, reaching $57.98. The company had a trading volume of 1,009,806 shares, compared to its average volume of 947,614. Cactus has a one year low of $33.20 and a one year high of $59.22. 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 company’s 50-day moving average price is $52.71 and its 200-day moving average price is $45.07. The firm 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 2nd will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, March 2nd. Cactus’s payout ratio is 22.31%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Zacks Research downgraded shares of Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Citigroup raised Cactus from a “neutral” rating to a “buy” rating and increased their price target for the company from $45.00 to $55.00 in a research report on Thursday, December 11th. Bank of America raised shares of Cactus from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $39.00 to $40.00 in a research report on Wednesday, October 29th. Stifel Nicolaus upped their target price on Cactus from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Piper Sandler assumed coverage on Cactus in a report on Tuesday. They set an “overweight” rating and a $73.00 price target on the stock. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $54.00.

Institutional Trading of Cactus

Hedge funds have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd lifted its position in shares of Cactus by 73.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after buying an additional 314 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in Cactus in the 3rd quarter valued at about $33,000. Advisors Asset Management Inc. lifted its holdings in Cactus by 113.8% during the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after purchasing an additional 543 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in Cactus by 39,200.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,179 shares of the company’s stock valued at $54,000 after purchasing an additional 1,176 shares during the last quarter. Finally, United Services Automobile Association bought a new position in Cactus during the first quarter worth about $203,000. 85.11% of the stock is currently owned by institutional investors.

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.