Equities research analysts forecast that Advanced Drainage Systems Inc (NYSE:WMS) will report $0.37 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Advanced Drainage Systems’ earnings. Advanced Drainage Systems posted earnings of $0.28 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 32.1%. The firm is scheduled to report its next quarterly earnings results before the market opens on Thursday, February 7th.
On average, analysts expect that Advanced Drainage Systems will report full-year earnings of $1.30 per share for the current fiscal year. For the next year, analysts forecast that the firm will report earnings of $1.37 per share, with EPS estimates ranging from $1.25 to $1.48. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Advanced Drainage Systems.
Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, November 8th. The construction company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. Advanced Drainage Systems had a net margin of 6.20% and a return on equity of 46.15%. The business had revenue of $406.56 million during the quarter, compared to analysts’ expectations of $417.03 million. During the same period last year, the business earned $0.29 earnings per share. The firm’s revenue was up 1.4% on a year-over-year basis.
Several equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research note on Saturday, January 12th. Citigroup decreased their target price on shares of Advanced Drainage Systems from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, January 4th. Barclays decreased their target price on shares of Advanced Drainage Systems from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 12th. Boenning Scattergood reissued a “hold” rating on shares of Advanced Drainage Systems in a research note on Friday, November 16th. Finally, ValuEngine cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Monday, November 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $30.50.
A number of hedge funds have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System boosted its position in Advanced Drainage Systems by 576.5% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 54,807 shares of the construction company’s stock worth $1,329,000 after purchasing an additional 46,706 shares during the period. Rhumbline Advisers boosted its position in Advanced Drainage Systems by 49.3% during the fourth quarter. Rhumbline Advisers now owns 49,132 shares of the construction company’s stock worth $1,191,000 after purchasing an additional 16,225 shares during the period. Valeo Financial Advisors LLC boosted its position in Advanced Drainage Systems by 15.7% during the fourth quarter. Valeo Financial Advisors LLC now owns 15,069 shares of the construction company’s stock worth $365,000 after purchasing an additional 2,041 shares during the period. Quantamental Technologies LLC bought a new position in Advanced Drainage Systems during the fourth quarter worth $56,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Advanced Drainage Systems by 221.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,589 shares of the construction company’s stock worth $160,000 after purchasing an additional 4,537 shares during the period. 79.83% of the stock is owned by hedge funds and other institutional investors.
NYSE:WMS opened at $25.09 on Monday. Advanced Drainage Systems has a 1-year low of $21.70 and a 1-year high of $33.50. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.31 and a quick ratio of 1.19. The firm has a market capitalization of $1.43 billion, a P/E ratio of 30.98 and a beta of 1.01.
Advanced Drainage Systems Company Profile
Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.
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