Cactus (NYSE:WHD) Trading Down 8.5% After Earnings Miss

Shares of Cactus, Inc. (NYSE:WHD) fell 8.5% on Thursday following a dissappointing earnings announcement. The company traded as low as $52.76 and last traded at $52.34. 51,042 shares were traded during mid-day trading, a decline of 89% from the average session 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). Cactus had a return on equity of 20.24% and a net margin of 16.57%. The company had revenue of $272.12 million for the quarter, compared to analyst estimates of $277.59 million.

Cactus Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd will be paid a $0.13 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.99%. Cactus’s dividend payout ratio (DPR) is presently 18.84%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Cactus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oarsman Capital Inc. acquired a new stake in Cactus in the fourth quarter worth about $26,000. Smartleaf Asset Management LLC increased its position in Cactus by 74.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 522 shares of the company’s stock worth $30,000 after purchasing an additional 223 shares during the period. Quest Partners LLC acquired a new stake in Cactus in the third quarter worth about $34,000. Versant Capital Management Inc increased its position in Cactus by 165.4% in the fourth quarter. Versant Capital Management Inc now owns 576 shares of the company’s stock worth $34,000 after purchasing an additional 359 shares during the period. Finally, Jones Financial Companies Lllp increased its position in Cactus by 66.9% in the fourth quarter. Jones Financial Companies Lllp now owns 841 shares of the company’s stock worth $49,000 after purchasing an additional 337 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Cactus Stock Performance

The stock has a 50-day moving average of $59.91 and a 200 day moving average of $61.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 5.13 and a beta of 1.97.

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.