Cactus (NYSE:WHD) Releases Earnings Results, Beats Estimates By $0.01 EPS

Cactus (NYSE:WHDGet Rating) issued its quarterly earnings data on Wednesday. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01, MarketWatch Earnings reports. The business had revenue of $145.90 million for the quarter, compared to analyst estimates of $139.84 million. Cactus had a return on equity of 6.95% and a net margin of 11.31%. Cactus’s quarterly revenue was up 72.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS.

Shares of NYSE:WHD opened at $48.32 on Friday. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 49.89 and a beta of 2.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.60 and a quick ratio of 4.31. The business’s 50-day moving average is $54.66 and its 200-day moving average is $46.94. Cactus has a 1 year low of $31.65 and a 1 year high of $64.18.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Monday, May 30th will be given a $0.11 dividend. The ex-dividend date of this dividend is Thursday, May 26th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.91%. Cactus’s dividend payout ratio (DPR) is presently 44.90%.

In other news, VP Steven Bender sold 8,814 shares of the business’s stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $55.99, for a total value of $493,495.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Donna L. Anderson sold 1,496 shares of the business’s stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $58.00, for a total value of $86,768.00. The disclosure for this sale can be found here. Insiders sold a total of 235,206 shares of company stock worth $12,856,083 over the last three months. 21.10% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of WHD. Janus Henderson Group PLC acquired a new position in Cactus during the 3rd quarter worth approximately $202,000. BNP Paribas Arbitrage SA raised its stake in shares of Cactus by 345.9% in the third quarter. BNP Paribas Arbitrage SA now owns 10,920 shares of the company’s stock worth $412,000 after purchasing an additional 8,471 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Cactus by 45.4% in the fourth quarter. Cubist Systematic Strategies LLC now owns 12,667 shares of the company’s stock worth $483,000 after purchasing an additional 3,956 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Cactus in the fourth quarter worth approximately $493,000. Finally, Citigroup Inc. grew its holdings in shares of Cactus by 1.5% in the fourth quarter. Citigroup Inc. now owns 17,954 shares of the company’s stock valued at $684,000 after acquiring an additional 261 shares in the last quarter.

A number of brokerages recently weighed in on WHD. Zacks Investment Research upgraded Cactus from a “hold” rating to a “strong-buy” rating and set a $66.00 price objective on the stock in a research report on Monday, April 4th. Stifel Nicolaus boosted their price objective on Cactus from $55.00 to $62.00 in a research report on Friday, April 8th. Barclays boosted their price objective on Cactus from $50.00 to $56.00 in a research report on Wednesday, March 2nd. Citigroup lowered Cactus from a “buy” rating to a “neutral” rating in a research report on Monday, March 14th. Finally, Morgan Stanley lowered Cactus from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $60.00 to $52.00 in a research report on Monday, April 11th. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.83.

About Cactus (Get Rating)

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.

Featured Stories

Earnings History for Cactus (NYSE:WHD)

Receive News & Ratings for Cactus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cactus and related companies with MarketBeat.com's FREE daily email newsletter.