Cactus (NYSE:WHD) Announces Earnings Results

Cactus (NYSE:WHD) announced its earnings results on Wednesday. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04, Zacks reports. The firm had revenue of $293.18 million for the quarter, compared to analysts’ expectations of $287.47 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. Cactus’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS.

Cactus Trading Up 2.2 %

Shares of WHD opened at $60.58 on Friday. The company has a current ratio of 3.82, a quick ratio of 2.59 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $4.82 billion, a P/E ratio of 21.48, a price-to-earnings-growth ratio of 2.83 and a beta of 1.95. The stock’s fifty day simple moving average is $59.76 and its 200 day simple moving average is $55.87. Cactus has a twelve month low of $37.58 and a twelve month high of $64.96.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, December 2nd. Cactus’s dividend payout ratio (DPR) is currently 18.44%.

Wall Street Analyst Weigh In

WHD has been the topic of a number of analyst reports. Stifel Nicolaus lowered their target price on Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Barclays increased their target price on Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Citigroup increased their target price on Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Piper Sandler decreased their price objective on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Finally, Bank of America raised their price objective on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.40.

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.