Cactus, Inc. (NYSE:WHD) Increases Dividend to $0.14 Per Share

Key Points

• Cactus, Inc. has raised its quarterly dividend to $0.14 per share, reflecting a 7.7% increase from the previous dividend of $0.13.
• The company reported a net margin of 16.78% and a return on equity of 18.99%, despite a revenue decline of 5.8% year-over-year.
• Analysts have lowered their price targets for Cactus, with Stifel Nicolaus adjusting their goal from $61.00 to $57.00 and maintaining a "buy" rating.

Cactus, Inc. (NYSE:WHD - Get Free Report) declared a quarterly dividend on Wednesday, July 30th, RTT News reports. Stockholders of record on Friday, August 29th will be paid a dividend of 0.14 per share on Thursday, September 18th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. This is a 7.7% increase from Cactus's previous quarterly dividend of $0.13.

Cactus has a payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cactus to earn $3.22 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

Cactus stock traded down $2.61 during mid-day trading on Friday, hitting $39.70. 1,222,798 shares of the company were exchanged, compared to its average volume of 547,781. Cactus has a 1-year low of $33.80 and a 1-year high of $70.01. The company has a market capitalization of $3.17 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 3.72 and a beta of 1.48. The company has a quick ratio of 3.47, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $44.61 and a 200 day moving average of $47.11.

Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). The company had revenue of $273.58 million for the quarter, compared to analyst estimates of $280.28 million. Cactus had a return on equity of 17.34% and a net margin of 16.19%. The company's revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 earnings per share. As a group, sell-side analysts expect that Cactus will post 3.08 earnings per share for the current year.

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.