Advanced Drainage Systems (NYSE:WMS) Releases Quarterly Earnings Results

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

Advanced Drainage Systems Stock Performance

Shares of NYSE:WMS traded up $4.07 on Friday, reaching $162.04. 1,180,486 shares of the company’s stock were exchanged, compared to its average volume of 446,516. The business’s 50-day moving average is $134.23 and its two-hundred day moving average is $124.50. The company has a quick ratio of 1.98, a current ratio of 3.03 and a debt-to-equity ratio of 1.18. Advanced Drainage Systems has a fifty-two week low of $75.02 and a fifty-two week high of $163.46. The firm has a market capitalization of $12.62 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 2.52 and a beta of 1.45.

Advanced Drainage Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Thursday, February 29th. Advanced Drainage Systems’s dividend payout ratio is presently 8.90%.

Hedge Funds Weigh In On Advanced Drainage Systems

Institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. boosted its stake in Advanced Drainage Systems by 3.8% during the 2nd quarter. Prudential Financial Inc. now owns 2,238 shares of the construction company’s stock valued at $203,000 after purchasing an additional 82 shares during the period. Captrust Financial Advisors grew its holdings in Advanced Drainage Systems by 4.6% in the 2nd quarter. Captrust Financial Advisors now owns 2,525 shares of the construction company’s stock worth $287,000 after buying an additional 112 shares in the last quarter. Belpointe Asset Management LLC increased its position in Advanced Drainage Systems by 47.8% in the 1st quarter. Belpointe Asset Management LLC now owns 495 shares of the construction company’s stock valued at $42,000 after acquiring an additional 160 shares during the period. Creative Planning raised its stake in Advanced Drainage Systems by 4.3% during the 3rd quarter. Creative Planning now owns 3,893 shares of the construction company’s stock valued at $443,000 after acquiring an additional 160 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its position in Advanced Drainage Systems by 1.0% during the 2nd quarter. Baird Financial Group Inc. now owns 18,559 shares of the construction company’s stock worth $2,112,000 after acquiring an additional 184 shares during the period. 84.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

WMS has been the subject of several analyst reports. KeyCorp upped their target price on shares of Advanced Drainage Systems from $160.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday. StockNews.com raised shares of Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research report on Friday. Stephens lifted their target price on Advanced Drainage Systems from $138.00 to $182.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Barclays lifted their price objective on Advanced Drainage Systems from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.13.

Get Our Latest Stock Analysis on WMS

About Advanced Drainage Systems

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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.

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Earnings History for Advanced Drainage Systems (NYSE:WMS)

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