Cactus (NYSE:WHD) Issues Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Cactus (NYSE:WHDGet Rating) announced its quarterly earnings results on Thursday. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.08, Briefing.com reports. Cactus had a net margin of 11.73% and a return on equity of 8.10%. The business had revenue of $170.20 million for the quarter, compared to analysts’ expectations of $161.11 million. During the same quarter last year, the firm earned $0.16 EPS. The firm’s revenue for the quarter was up 56.3% compared to the same quarter last year.

Cactus Stock Performance

Shares of WHD stock traded up $1.48 during trading hours on Friday, hitting $39.52. 434,992 shares of the company were exchanged, compared to its average volume of 522,391. The firm has a fifty day simple moving average of $42.11 and a 200 day simple moving average of $48.37. The company has a current ratio of 5.33, a quick ratio of 4.00 and a debt-to-equity ratio of 0.01. Cactus has a 52-week low of $31.65 and a 52-week high of $64.18. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 40.33, a P/E/G ratio of 0.69 and a beta of 1.98.

Cactus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Monday, August 29th will be paid a dividend of $0.11 per share. The ex-dividend date is Friday, August 26th. This represents a $0.44 annualized dividend and a dividend yield of 1.11%. Cactus’s payout ratio is currently 44.90%.

Insider Transactions at Cactus

In other news, Director Alan Semple sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $48.84, for a total transaction of $976,800.00. Following the completion of the sale, the director now owns 30,035 shares in the company, valued at approximately $1,466,909.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Joel Bender sold 15,151 shares of Cactus stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $49.27, for a total value of $746,489.77. Following the completion of the transaction, the chief operating officer now directly owns 799,724 shares in the company, valued at approximately $39,402,401.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan Semple sold 20,000 shares of Cactus stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $48.84, for a total transaction of $976,800.00. Following the completion of the transaction, the director now owns 30,035 shares of the company’s stock, valued at $1,466,909.40. The disclosure for this sale can be found here. Insiders sold a total of 1,389,748 shares of company stock worth $73,478,068 in the last quarter. Insiders own 21.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WHD. PNC Financial Services Group Inc. grew its stake in Cactus by 70.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,016 shares of the company’s stock valued at $172,000 after buying an additional 1,247 shares in the last quarter. Vident Investment Advisory LLC purchased a new position in shares of Cactus during the 1st quarter valued at $200,000. Sawtooth Solutions LLC purchased a new position in shares of Cactus during the 1st quarter valued at $267,000. Westwood Holdings Group Inc. purchased a new position in shares of Cactus during the 1st quarter valued at $268,000. Finally, Jane Street Group LLC purchased a new position in shares of Cactus during the 1st quarter valued at $743,000.

Analyst Ratings Changes

Several research firms have commented on WHD. Stifel Nicolaus lifted their target price on shares of Cactus from $55.00 to $62.00 in a research report on Friday, April 8th. Morgan Stanley dropped their target price on shares of Cactus from $60.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 13th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $54.60.

Cactus Company Profile

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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.

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Earnings History for Cactus (NYSE:WHD)

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