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

Cactus (NYSE:WHD) issued its quarterly earnings results on Wednesday. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.09, Briefing.com reports. The firm had revenue of $290.39 million for the quarter, compared to analysts’ expectations of $276.76 million. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS.

Cactus Price Performance

Shares of Cactus stock traded down $2.98 on Friday, hitting $59.01. The company’s stock had a trading volume of 1,036,825 shares, compared to its average volume of 865,474. Cactus has a 52-week low of $37.58 and a 52-week high of $64.96. The company has a quick ratio of 2.17, a current ratio of 3.75 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average price of $53.62 and a 200-day moving average price of $49.51. The company has a market capitalization of $4.69 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 2.39 and a beta of 1.98.

Cactus Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 26th will be given a $0.13 dividend. The ex-dividend date of this dividend is Monday, August 26th. This is a positive change from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 0.88%. Cactus’s payout ratio is currently 19.12%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Piper Sandler dropped their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Barclays boosted their price target on Cactus from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Johnson Rice cut Cactus from a “buy” rating to an “accumulate” rating in a research report on Friday, May 31st. Benchmark reiterated a “hold” rating on shares of Cactus in a research report on Monday, May 6th. Finally, Bank of America boosted their target price on Cactus from $40.00 to $43.00 and gave the stock an “underperform” rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $55.00.

Insider Buying and Selling

In related news, President Joel Bender sold 358,458 shares of the business’s stock in a transaction dated 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 sale, the president now directly owns 156,586 shares in the company, valued at approximately $8,001,544.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Cactus news, EVP William D. Marsh sold 2,059 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $51.03, for a total value of $105,070.77. Following the transaction, the executive vice president now directly owns 1,852 shares in the company, valued at approximately $94,507.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Joel Bender sold 358,458 shares of the company’s stock in a transaction dated 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 completion of the transaction, the president now owns 156,586 shares in the company, valued at $8,001,544.60. The disclosure for this sale can be found here. Insiders have sold 602,059 shares of company stock worth $30,948,949 in the last three months. Corporate insiders own 17.72% 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.