Cactus (NYSE:WHD) Stock Price Down 8.5% on Disappointing Earnings

Cactus, Inc. (NYSE:WHD)’s share price dropped 8.5% during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $52.76 and last traded at $52.34. Approximately 51,042 shares changed hands during trading, a decline of 89% from the average daily volume of 467,429 shares. The stock had previously closed at $57.19.

The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.01). The firm had revenue of $272.12 million during the quarter, compared to analyst estimates of $277.59 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd will be issued a $0.13 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.52 annualized dividend and a dividend yield of 0.99%. Cactus’s dividend payout ratio is currently 18.84%.

Wall Street Analysts Forecast Growth

Separately, Barclays downgraded shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price for the company. in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $56.40.

Institutional Trading of Cactus

A number of institutional investors have recently bought and sold shares of WHD. Creative Planning raised its position in shares of Cactus by 27.5% in the third quarter. Creative Planning now owns 11,292 shares of the company’s stock valued at $674,000 after buying an additional 2,433 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Cactus by 10.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock worth $188,000 after acquiring an additional 307 shares during the period. New York State Teachers Retirement System raised its holdings in Cactus by 1.3% in the 3rd quarter. New York State Teachers Retirement System now owns 15,500 shares of the company’s stock valued at $925,000 after acquiring an additional 200 shares in the last quarter. First Trust Direct Indexing L.P. bought a new stake in shares of Cactus during the 3rd quarter valued at $226,000. Finally, Diversify Wealth Management LLC grew its holdings in shares of Cactus by 18.6% during the 3rd quarter. Diversify Wealth Management LLC now owns 8,504 shares of the company’s stock worth $499,000 after purchasing an additional 1,334 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.

Cactus Trading Up 0.9 %

The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 5.13 and a beta of 1.97. The firm has a fifty day moving average price of $59.91 and a 200-day moving average price of $61.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82.

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.