Advanced Drainage Systems Inc (NYSE:WMS) issued its quarterly earnings results on Thursday. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Advanced Drainage Systems had a return on equity of 243.51% and a net margin of 3.82%. The firm earned $294.70 million during the quarter, compared to analyst estimates of $172.17 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s revenue was down 5.8% compared to the same quarter last year.
Advanced Drainage Systems (NYSE:WMS) opened at 24.35 on Monday. The stock has a market cap of $1.33 billion, a P/E ratio of 39.92 and a beta of 1.09. The company’s 50-day moving average price is $22.94 and its 200-day moving average price is $22.76. Advanced Drainage Systems has a one year low of $17.72 and a one year high of $28.49.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be issued a dividend of $0.06 per share. The ex-dividend date is Monday, February 27th. This represents a $0.24 dividend on an annualized basis and a yield of 0.99%. Advanced Drainage Systems’s dividend payout ratio is presently 32.00%.
Several research analysts have recently commented on the company. Royal Bank Of Canada lifted their price objective on Advanced Drainage Systems from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, January 13th. RBC Capital Markets reiterated a “sector perform” rating and issued a $24.00 price objective (up previously from $22.00) on shares of Advanced Drainage Systems in a report on Friday, January 13th. Robert W. Baird upgraded Advanced Drainage Systems from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $25.00 to $29.00 in a report on Friday, January 13th. Zacks Investment Research downgraded Advanced Drainage Systems from a “hold” rating to a “sell” rating in a report on Thursday, December 15th. Finally, TheStreet downgraded Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Friday, October 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.50.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors raised its position in Advanced Drainage Systems by 4.7% in the second quarter. Nationwide Fund Advisors now owns 22,644 shares of the company’s stock valued at $620,000 after buying an additional 1,007 shares during the period. Teacher Retirement System of Texas raised its position in Advanced Drainage Systems by 32.2% in the second quarter. Teacher Retirement System of Texas now owns 5,636 shares of the company’s stock valued at $154,000 after buying an additional 1,372 shares during the period. Schwab Charles Investment Management Inc. raised its position in Advanced Drainage Systems by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 109,781 shares of the company’s stock valued at $3,005,000 after buying an additional 1,950 shares during the period. UBS Asset Management Americas Inc. raised its position in Advanced Drainage Systems by 14.0% in the second quarter. UBS Asset Management Americas Inc. now owns 18,700 shares of the company’s stock valued at $512,000 after buying an additional 2,300 shares during the period. Finally, BlackRock Investment Management LLC raised its position in Advanced Drainage Systems by 2.0% in the third quarter. BlackRock Investment Management LLC now owns 131,119 shares of the company’s stock valued at $3,155,000 after buying an additional 2,551 shares during the period. 69.53% of the stock is owned by institutional investors and hedge funds.
About Advanced Drainage Systems
Advanced Drainage Systems, Inc is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States.
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