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

Cactus, Inc. (NYSE:WHD - Get Free Report)'s share price traded down 8.5% during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. 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 analysts' consensus estimates of $0.72 by ($0.01). Cactus had a net margin of 16.57% and a return on equity of 20.24%. The firm had revenue of $272.12 million for the quarter, compared to analyst estimates of $277.59 million.

Cactus Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 3rd will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.03%. The ex-dividend date is Monday, March 3rd. Cactus's dividend payout ratio is currently 18.84%.

Wall Street Analyst Weigh In

Separately, Barclays lowered shares of Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 target price for the company. in a research 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 given a buy rating to the company's stock. According to MarketBeat.com, Cactus presently has an average rating of "Hold" and a consensus price target of $56.40.

Hedge Funds Weigh In On Cactus

Several hedge funds have recently made changes to their positions in WHD. Oarsman Capital Inc. bought a new stake in shares of Cactus during the 4th quarter worth $26,000. Smartleaf Asset Management LLC boosted its holdings in shares of 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 buying an additional 223 shares during the period. Quest Partners LLC acquired a new stake in shares of Cactus during the third quarter valued at approximately $34,000. Versant Capital Management Inc grew its position in Cactus by 165.4% during the 4th quarter. Versant Capital Management Inc now owns 576 shares of the company's stock worth $34,000 after purchasing an additional 359 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Cactus by 66.9% in the fourth quarter. Jones Financial Companies Lllp now owns 841 shares of the company's stock valued at $49,000 after purchasing an additional 337 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.

Cactus Stock Down 4.0 %

The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 5.13 and a beta of 1.97. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $59.83 and a two-hundred day moving average of $61.08.

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.