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

Advanced Drainage Systems (NYSE:WMSGet Free Report) announced its quarterly earnings results on Thursday. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating 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 company had revenue of $662.37 million for the quarter, compared to the consensus estimate of $632.69 million. During the same quarter in the prior 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 WMS stock opened at $162.04 on Friday. Advanced Drainage Systems has a one year low of $75.02 and a one year high of $163.46. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.98 and a current ratio of 3.03. The company has a 50 day moving average price of $134.23 and a 200 day moving average price of $124.52. The firm has a market capitalization of $12.62 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 2.58 and a beta of 1.45.

Advanced Drainage Systems Announces Dividend

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

Analyst Upgrades and Downgrades

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

Check Out Our Latest Stock Report on WMS

Hedge Funds Weigh In On Advanced Drainage Systems

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. increased its position in Advanced Drainage Systems by 3.8% during the second quarter. Prudential Financial Inc. now owns 2,238 shares of the construction company’s stock worth $203,000 after purchasing an additional 82 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Advanced Drainage Systems by 4.6% in the second quarter. Captrust Financial Advisors now owns 2,525 shares of the construction company’s stock worth $287,000 after acquiring an additional 112 shares in the last quarter. Belpointe Asset Management LLC increased its position in shares of Advanced Drainage Systems by 47.8% in the first quarter. Belpointe Asset Management LLC now owns 495 shares of the construction company’s stock worth $42,000 after acquiring an additional 160 shares in the last quarter. Creative Planning increased its position in shares of Advanced Drainage Systems by 4.3% in the third quarter. Creative Planning now owns 3,893 shares of the construction company’s stock worth $443,000 after acquiring an additional 160 shares in the last quarter. Finally, Baird Financial Group Inc. increased its position in shares of Advanced Drainage Systems by 1.0% in the second 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 in the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

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.

Further Reading

Earnings History for Advanced Drainage Systems (NYSE:WMS)

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