Cactus Inc (NYSE:WHD) Announces Quarterly Dividend of $0.09

Cactus Inc (NYSE:WHD) announced a quarterly dividend on Wednesday, July 29th, Zacks reports. Shareholders of record on Monday, August 31st will be paid a dividend of 0.09 per share on Thursday, September 17th. This represents a $0.36 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Friday, August 28th.

Cactus has a dividend payout ratio of 128.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Cactus to earn $0.22 per share next year, which means the company may not be able to cover its $0.36 annual dividend with an expected future payout ratio of 163.6%.

NYSE:WHD traded down $0.19 during trading hours on Friday, reaching $22.35. The company had a trading volume of 12,886 shares, compared to its average volume of 329,053. The stock has a 50-day moving average of $20.50 and a two-hundred day moving average of $20.77. Cactus has a one year low of $8.16 and a one year high of $35.28. The firm has a market capitalization of $1.69 billion, a PE ratio of 17.93 and a beta of 2.49. The company has a quick ratio of 4.11, a current ratio of 5.35 and a debt-to-equity ratio of 0.04.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.09. The firm had revenue of $66.55 million for the quarter, compared to analysts’ expectations of $60.29 million. Cactus had a return on equity of 14.47% and a net margin of 11.96%. The business’s revenue was down 60.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, sell-side analysts expect that Cactus will post 0.32 earnings per share for the current year.

Several analysts have recently commented on the company. Morgan Stanley increased their target price on Cactus from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Bank of America upgraded Cactus from an “underperform” rating to a “neutral” rating and set a $21.00 target price on the stock in a report on Thursday, May 28th. Barclays cut Cactus from an “overweight” rating to an “equal weight” rating and set a $14.00 target price on the stock. in a report on Thursday, May 14th. They noted that the move was a valuation call. Royal Bank of Canada restated a “buy” rating and set a $15.00 target price on shares of Cactus in a report on Monday, April 6th. Finally, ValuEngine upgraded Cactus from a “sell” rating to a “hold” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Cactus presently has an average rating of “Buy” and an average target price of $21.82.

Cactus Company Profile

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment. The company's principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.

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