Cactus (NYSE:WHD) Trading Down 8.5% After Earnings Miss

Cactus, Inc. (NYSE:WHD)’s stock price dropped 8.5% during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $52.76 and last traded at $52.34. Approximately 51,042 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 467,429 shares. The stock had previously closed at $57.19.

The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). Cactus had a return on equity of 20.24% and a net margin of 16.57%. The business had revenue of $272.12 million for the quarter, compared to analyst estimates of $277.59 million.

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.99%. Cactus’s dividend payout ratio (DPR) is presently 18.84%.

Analyst Upgrades and Downgrades

Separately, Barclays lowered Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price for the company. in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cactus presently has an average rating of “Hold” and an average price target of $56.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WHD. Oarsman Capital Inc. bought a new position in Cactus in the fourth quarter worth $26,000. Smartleaf Asset Management LLC raised its stake in Cactus by 74.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 522 shares of the company’s stock worth $30,000 after acquiring an additional 223 shares in the last quarter. Quest Partners LLC acquired a new position in Cactus during the third quarter worth $34,000. Versant Capital Management Inc raised its stake in Cactus by 165.4% during the fourth quarter. Versant Capital Management Inc now owns 576 shares of the company’s stock worth $34,000 after acquiring an additional 359 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Cactus by 66.9% during the fourth quarter. Jones Financial Companies Lllp now owns 841 shares of the company’s stock worth $49,000 after acquiring an additional 337 shares in the last quarter. 85.11% of the stock is owned by institutional investors.

Cactus Stock Down 8.5 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The firm has a 50 day simple moving average of $59.91 and a 200-day simple moving average of $61.09. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 5.13 and a beta of 1.97.

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.