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

Advanced Drainage Systems Inc (NYSE:WMS) announced 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 yield of 0.83%. The ex-dividend date is Friday, May 29th.

Advanced Drainage Systems has increased its dividend payment by an average of 10.1% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Advanced Drainage Systems has a dividend payout ratio of -46.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 WMS traded up $1.60 on Friday, hitting $43.61. The company’s stock had a trading volume of 12,158 shares, compared to its average volume of 440,593. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.37 and a quick ratio of 1.19. The company has a 50 day moving average price of $35.97 and a 200 day moving average price of $38.74. Advanced Drainage Systems has a fifty-two week low of $22.13 and a fifty-two week high of $51.60. The company has a market capitalization of $3.62 billion, a PE ratio of -11.45, a PEG ratio of 2.31 and a beta of 1.41.

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

WMS has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, February 11th. Robert W. Baird upped their price objective on shares of Advanced Drainage Systems from $40.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday. TheStreet upgraded shares of Advanced Drainage Systems from a “c+” rating to a “b” rating in a research report on Thursday, February 6th. Barclays upped their target price on shares of Advanced Drainage Systems from $41.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $43.40.

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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Dividend History for Advanced Drainage Systems (NYSE:WMS)

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