Analysts expect Advanced Drainage Systems Inc (NYSE:WMS) to announce $264.49 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Advanced Drainage Systems’ earnings. The lowest sales estimate is $261.83 million and the highest is $267.14 million. Advanced Drainage Systems posted sales of $250.11 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.7%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, June 4th.
On average, analysts expect that Advanced Drainage Systems will report full-year sales of $1.40 billion for the current financial year, with estimates ranging from $1.39 billion to $1.40 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.46 billion, with estimates ranging from $1.44 billion to $1.47 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Advanced Drainage Systems.
Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, February 7th. The construction company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.06). Advanced Drainage Systems had a return on equity of 37.87% and a net margin of 4.98%. The firm had revenue of $318.11 million for the quarter, compared to analyst estimates of $339.61 million. During the same period in the previous year, the company posted $0.28 EPS. Advanced Drainage Systems’s revenue was down .8% on a year-over-year basis.
WMS has been the subject of several analyst reports. Zacks Investment Research downgraded Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Friday, November 23rd. Citigroup reduced their target price on Advanced Drainage Systems from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, January 4th. Boenning Scattergood reissued a “hold” rating on shares of Advanced Drainage Systems in a research report on Friday, November 16th. Barclays reduced 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. 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 presently has a consensus rating of “Hold” and an average target price of $30.50.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE grew its stake in Advanced Drainage Systems by 83.4% during the second quarter. Bank of America Corp DE now owns 82,977 shares of the construction company’s stock valued at $2,369,000 after acquiring an additional 37,734 shares in the last quarter. Millennium Management LLC grew its position in shares of Advanced Drainage Systems by 20.4% in the 2nd quarter. Millennium Management LLC now owns 236,547 shares of the construction company’s stock worth $6,753,000 after buying an additional 40,076 shares during the period. Bank of New York Mellon Corp grew its position in Advanced Drainage Systems by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 274,540 shares of the construction company’s stock valued at $7,838,000 after purchasing an additional 18,870 shares during the last quarter. Northern Trust Corp lifted its stake in Advanced Drainage Systems by 19.0% during the 2nd quarter. Northern Trust Corp now owns 556,109 shares of the construction company’s stock valued at $15,877,000 after acquiring an additional 88,616 shares during the period. Finally, Calamos Advisors LLC bought a new position in Advanced Drainage Systems during the 3rd quarter valued at about $408,000. Hedge funds and other institutional investors own 79.62% of the company’s stock.
Shares of WMS traded down $0.06 during mid-day trading on Wednesday, hitting $24.35. The company’s stock had a trading volume of 275,300 shares, compared to its average volume of 349,461. Advanced Drainage Systems has a 1-year low of $23.04 and a 1-year high of $33.50. The stock has a market capitalization of $1.40 billion, a P/E ratio of 30.06 and a beta of 1.01. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.24 and a quick ratio of 0.95.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Thursday, February 28th. Advanced Drainage Systems’s payout ratio is 39.51%.
About Advanced Drainage Systems
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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