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

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 paid a dividend of 0.13 per share on Thursday, December 19th. This represents a $0.52 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, December 2nd.

Cactus has raised its dividend by an average of 8.5% per year over the last three years. Cactus has a dividend payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 2.2 %

WHD stock traded up $1.29 during mid-day trading on Friday, hitting $60.58. 866,147 shares of the company were exchanged, compared to its average volume of 736,756. The firm has a market cap of $4.82 billion, a P/E ratio of 21.35, a P/E/G ratio of 2.74 and a beta of 1.95. Cactus has a 1-year low of $37.58 and a 1-year high of $64.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.59 and a current ratio of 3.75. The firm's 50 day simple moving average is $59.75 and its 200 day simple moving average is $55.76.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $293.18 million for the quarter, compared to analysts' expectations of $287.47 million. Cactus had a net margin of 16.57% and a return on equity of 20.72%. The firm's revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 EPS. On average, sell-side analysts predict that Cactus will post 3.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Stifel Nicolaus cut their target price on Cactus from $69.00 to $67.00 and set a "buy" rating on the stock in a research note on Friday, October 11th. Piper Sandler decreased their target price on shares of Cactus from $55.00 to $54.00 and set a "neutral" rating for the company in a research report on Monday, July 15th. Bank of America increased their price objective on shares of Cactus from $44.00 to $48.00 and gave the stock an "underperform" rating in a research note on Monday, October 14th. Citigroup lifted their target price on Cactus from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, July 10th. Finally, Barclays raised their price target on Cactus from $56.00 to $61.00 and gave the company an "overweight" rating in a research note on Monday, August 5th. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $56.40.

About Cactus

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.