Cactus, Inc. (WHD) To Go Ex-Dividend on March 2nd

Cactus, Inc. (NYSE:WHD) announced a quarterly dividend on Tuesday, February 3rd. Investors of record on Monday, March 2nd will be paid a dividend of 0.14 per share on Thursday, March 19th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, March 2nd.

Cactus has increased its dividend by an average of 0.4%per year over the last three years and has increased its dividend every year for the last 4 years. Cactus has a dividend payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cactus to earn $3.22 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 17.4%.

Cactus Stock Up 4.9%

NYSE:WHD opened at $54.09 on Friday. The stock has a fifty day simple moving average of $53.29 and a 200-day simple moving average of $45.32. The company has a current ratio of 5.28, a quick ratio of 3.74 and a debt-to-equity ratio of 0.01. The company has a market cap of $4.32 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 5.27 and a beta of 1.27. Cactus has a twelve month low of $33.20 and a twelve month high of $59.25.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. The company had revenue of $261.20 million during the quarter, compared to analysts’ expectations of $250.60 million. Cactus had a net margin of 15.39% and a return on equity of 15.42%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 EPS. Analysts anticipate that Cactus will post 3.08 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on WHD. Piper Sandler began coverage on Cactus in a report on Tuesday. They issued an “overweight” rating and a $73.00 price objective for the company. Zacks Research downgraded shares of Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Stifel Nicolaus upped their price target on shares of Cactus from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a report on Monday, December 29th. Finally, Barclays upped their target price on Cactus from $51.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, December 17th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $54.00.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.