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

Advanced Drainage Systems (NYSE:WMSGet Free Report) issued its earnings results on Thursday. The construction company reported $1.37 earnings per share (EPS) 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 company had revenue of $662.37 million for the quarter, compared to analysts’ expectations of $632.69 million. During the same quarter last year, the company posted $0.99 earnings per share. The firm’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 Trading Up 2.6 %

Shares of Advanced Drainage Systems stock opened at $162.04 on Friday. The company has a market capitalization of $12.62 billion, a P/E ratio of 25.76, a P/E/G ratio of 2.58 and a beta of 1.45. 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 fifty day moving average of $134.23 and a 200 day moving average of $124.52. Advanced Drainage Systems has a fifty-two week low of $75.02 and a fifty-two week high of $163.46.

Advanced Drainage Systems Dividend Announcement

The company 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. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date is Thursday, February 29th. Advanced Drainage Systems’s dividend payout ratio (DPR) is 8.90%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Mariner LLC boosted its holdings in Advanced Drainage Systems by 45.9% in the 4th quarter. Mariner LLC now owns 2,732 shares of the construction company’s stock worth $224,000 after buying an additional 859 shares during the period. Neuberger Berman Group LLC bought a new position in Advanced Drainage Systems in the 3rd quarter worth $217,000. CIBC Asset Management Inc bought a new position in Advanced Drainage Systems in the 2nd quarter worth $216,000. Graham Capital Management L.P. bought a new position in Advanced Drainage Systems in the 3rd quarter worth $210,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Advanced Drainage Systems by 13.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,844 shares of the construction company’s stock worth $210,000 after buying an additional 224 shares during the period. Institutional investors own 84.69% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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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.

See Also

Earnings History for Advanced Drainage Systems (NYSE:WMS)

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