Advanced Drainage Systems (NYSE:WMS) Posts Quarterly Earnings Results, Beats Expectations By $0.44 EPS

Advanced Drainage Systems (NYSE:WMSGet Free Report) released its quarterly earnings results on Thursday. The construction company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.44, Briefing.com reports. Advanced Drainage Systems had a net margin of 17.65% and a return on equity of 49.79%. The business had revenue of $662.37 million for the quarter, compared to the consensus estimate of $632.69 million. During the same period last year, the firm earned $0.99 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. Advanced Drainage Systems updated its FY 2024 guidance to EPS.

Advanced Drainage Systems Price Performance

NYSE WMS traded up $4.07 on Friday, reaching $162.04. The company had a trading volume of 1,180,486 shares, compared to its average volume of 446,516. The stock has a market capitalization of $12.62 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 2.52 and a beta of 1.45. Advanced Drainage Systems has a 12 month low of $75.02 and a 12 month high of $163.46. The company has a quick ratio of 1.98, a current ratio of 3.03 and a debt-to-equity ratio of 1.18. The firm’s 50 day moving average price is $134.23 and its 200 day moving average price is $124.50.

Advanced Drainage Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, February 29th. This represents a $0.56 annualized dividend and a yield of 0.35%. Advanced Drainage Systems’s payout ratio is 8.90%.

Hedge Funds Weigh In On Advanced Drainage Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new stake in Advanced Drainage Systems in the 2nd quarter worth approximately $33,000. Belpointe Asset Management LLC lifted its position in Advanced Drainage Systems by 47.8% during the first quarter. Belpointe Asset Management LLC now owns 495 shares of the construction company’s stock valued at $42,000 after purchasing an additional 160 shares during the last quarter. Point72 Middle East FZE bought a new position in Advanced Drainage Systems during the fourth quarter valued at $88,000. Lazard Asset Management LLC increased its holdings in shares of Advanced Drainage Systems by 98.2% in the 1st quarter. Lazard Asset Management LLC now owns 1,132 shares of the construction company’s stock worth $134,000 after buying an additional 561 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Advanced Drainage Systems by 54.3% in the 4th quarter. Bessemer Group Inc. now owns 2,047 shares of the construction company’s stock worth $167,000 after buying an additional 720 shares during the last quarter. 84.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. KeyCorp boosted their price target on Advanced Drainage Systems from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Friday. Barclays boosted their price objective on Advanced Drainage Systems from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Stephens raised their target price on shares of Advanced Drainage Systems from $138.00 to $182.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, StockNews.com raised shares of Advanced Drainage Systems from a “hold” rating to a “buy” rating in a report on Friday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $155.13.

View Our Latest Report on WMS

Advanced Drainage Systems Company Profile

(Get Free Report)

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.

Recommended Stories

Earnings 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.