Cactus, Inc. Plans Quarterly Dividend of $0.13 (NYSE:WHD)

by · The Markets Daily

Cactus, Inc. (NYSE:WHD – Get Free Report) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Monday, December 2nd will be given a dividend of 0.13 per share on Thursday, December 19th. This represents a $0.52 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, December 2nd.

Cactus has increased its dividend by an average of 8.5% annually over the last three years. Cactus has a payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cactus to earn $3.23 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 16.1%.

Cactus Price Performance

Shares of WHD opened at $59.30 on Friday. The stock has a market cap of $4.72 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 2.74 and a beta of 1.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.59 and a current ratio of 3.75. Cactus has a fifty-two week low of $37.58 and a fifty-two week high of $64.96. The firm’s 50-day simple moving average is $59.73 and its two-hundred day simple moving average is $55.73.

Cactus (NYSE:WHD – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. Cactus had a net margin of 16.57% and a return on equity of 20.72%. The firm had revenue of $293.18 million for the quarter, compared to analysts’ expectations of $287.47 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts anticipate that Cactus will post 3.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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Cactus Company Profile

(Get Free Report)

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.

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