Advanced Drainage Systems Inc (NYSE:WMS) Declares $0.09 Quarterly Dividend

Advanced Drainage Systems Inc (NYSE:WMS) declared a quarterly dividend on Wednesday, May 20th, Zacks reports. Shareholders of record on Monday, June 1st will be given a dividend of 0.09 per share by the construction company on Monday, June 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, May 29th.

Advanced Drainage Systems has increased its dividend by an average of 10.1% per year over the last three years and has increased its dividend every year for the last 4 years. Advanced Drainage Systems has a dividend payout ratio of -46.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Advanced Drainage Systems to earn $1.28 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 28.1%.

Shares of NYSE:WMS traded up $1.94 during mid-day trading on Friday, hitting $43.95. The company had a trading volume of 14,256 shares, compared to its average volume of 440,593. The firm has a fifty day moving average price of $35.97 and a 200 day moving average price of $38.74. The company has a market capitalization of $3.62 billion, a PE ratio of -11.45, a price-to-earnings-growth ratio of 2.31 and a beta of 1.41. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.37 and a quick ratio of 1.19. Advanced Drainage Systems has a one year low of $22.13 and a one year high of $51.60.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, May 21st. The construction company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). Advanced Drainage Systems had a positive return on equity of 16.13% and a negative net margin of 12.43%. The company had revenue of $370.80 million during the quarter, compared to analyst estimates of $371.11 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. The company’s revenue for the quarter was up 36.2% compared to the same quarter last year. Research analysts expect that Advanced Drainage Systems will post -3.15 earnings per share for the current fiscal year.

A number of equities research analysts have commented on WMS shares. Robert W. Baird raised their price objective on Advanced Drainage Systems from $40.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday. Zacks Investment Research upgraded Advanced Drainage Systems from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Friday, April 10th. Morgan Stanley reduced their target price on shares of Advanced Drainage Systems from $46.00 to $39.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 17th. ValuEngine raised shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, February 11th. Finally, Barclays raised their target price on Advanced Drainage Systems from $41.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $43.40.

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.

Read More: Municipal Bonds

Dividend History for Advanced Drainage Systems (NYSE:WMS)

Receive News & Ratings for Advanced Drainage Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Drainage Systems and related companies with MarketBeat.com's FREE daily email newsletter.