Cactus (NYSE:WHD) Announces Earnings Results

Cactus (NYSE:WHD) issued its earnings results on Wednesday. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07, Zacks reports. Cactus had a net margin of 15.39% and a return on equity of 15.42%. The business had revenue of $261.20 million for the quarter, compared to the consensus estimate of $250.60 million. During the same quarter last year, the firm posted $0.71 EPS. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year.

Cactus Stock Performance

Shares of WHD traded up $1.26 during midday trading on Friday, hitting $52.82. 313,351 shares of the stock traded hands, compared to its average volume of 960,159. The business’s 50 day moving average price is $53.12 and its two-hundred day moving average price is $45.21. The firm has a market capitalization of $4.22 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 5.93 and a beta of 1.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.74 and a current ratio of 5.28. Cactus has a 1-year low of $33.20 and a 1-year high of $59.25.

Cactus Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 2nd will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, March 2nd. Cactus’s dividend payout ratio (DPR) is presently 23.33%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Piper Sandler assumed coverage on Cactus in a research report on Tuesday. They set an “overweight” rating and a $73.00 target price on the stock. Barclays boosted their target price on shares of Cactus from $51.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 17th. Citigroup upgraded Cactus from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $45.00 to $55.00 in a research note on Thursday, December 11th. Zacks Research cut Cactus from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a research report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Cactus currently has an average rating of “Hold” and a consensus price target of $54.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WHD. State of Tennessee Department of Treasury raised its holdings in shares of Cactus by 12.1% during the fourth quarter. State of Tennessee Department of Treasury now owns 35,452 shares of the company’s stock valued at $1,619,000 after buying an additional 3,823 shares during the last quarter. EP Wealth Advisors LLC bought a new position in shares of Cactus in the fourth quarter worth $335,000. Cim LLC acquired a new position in shares of Cactus during the fourth quarter valued at $218,000. Voloridge Investment Management LLC raised its stake in shares of Cactus by 25.9% during the fourth quarter. Voloridge Investment Management LLC now owns 74,035 shares of the company’s stock valued at $3,382,000 after purchasing an additional 15,229 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Cactus by 20.0% in the fourth quarter. Wellington Management Group LLP now owns 3,963,961 shares of the company’s stock worth $181,074,000 after purchasing an additional 659,366 shares during the period. 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.