Cactus (NYSE:WHD) Posts Earnings Results, Beats Expectations By $0.09 EPS

Cactus (NYSE:WHD) issued its quarterly earnings data on Wednesday. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09, Briefing.com reports. Cactus had a return on equity of 21.70% and a net margin of 16.88%. The company had revenue of $290.39 million during the quarter, compared to analysts’ expectations of $276.76 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. The business’s revenue was down 5.0% on a year-over-year basis.

Cactus Trading Down 4.8 %

NYSE WHD opened at $59.02 on Friday. Cactus has a 12 month low of $37.58 and a 12 month high of $64.96. The company has a current ratio of 3.24, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $53.62 and its two-hundred day moving average price is $49.51. The firm has a market capitalization of $4.70 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 2.43 and a beta of 1.98.

Cactus Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 26th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, August 26th. This is a boost from Cactus’s previous quarterly dividend of $0.12. Cactus’s dividend payout ratio is presently 19.12%.

Insider Activity at Cactus

In related news, President Joel Bender sold 358,458 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $51.10, for a total value of $18,317,203.80. Following the completion of the transaction, the president now owns 156,586 shares of the company’s stock, valued at approximately $8,001,544.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, President Joel Bender sold 358,458 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $51.10, for a total transaction of $18,317,203.80. Following the transaction, the president now directly owns 156,586 shares of the company’s stock, valued at $8,001,544.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott Bender sold 39,957 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $51.01, for a total transaction of $2,038,206.57. Following the transaction, the chief executive officer now directly owns 400,234 shares of the company’s stock, valued at approximately $20,415,936.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 602,059 shares of company stock valued at $30,948,949. Company insiders own 17.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Citigroup boosted their target price on shares of Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Barclays upped their target price on shares of Cactus from $55.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Johnson Rice downgraded shares of Cactus from a “buy” rating to an “accumulate” rating in a research note on Friday, May 31st. Finally, Benchmark reissued a “hold” rating on shares of Cactus in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Cactus has a consensus rating of “Hold” and an average price target of $55.00.

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.