Advanced Drainage Systems (WMS) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Advanced Drainage Systems (NYSE:WMS) announced its earnings results on Thursday. The construction company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01, Briefing.com reports. The business had revenue of $406.56 million for the quarter, compared to the consensus estimate of $417.03 million. Advanced Drainage Systems had a return on equity of 47.60% and a net margin of 5.43%. Advanced Drainage Systems’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 EPS. Advanced Drainage Systems updated its FY 2019 guidance to EPS.

NYSE:WMS opened at $27.85 on Friday. Advanced Drainage Systems has a 52-week low of $21.00 and a 52-week high of $33.50. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.10 and a current ratio of 2.22. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 28.64 and a beta of 1.02.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, November 29th. Advanced Drainage Systems’s dividend payout ratio is 39.51%.

Several research analysts have recently commented on the company. Barclays boosted their target price on Advanced Drainage Systems from $29.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, August 13th. Boenning Scattergood reissued a “hold” rating on shares of Advanced Drainage Systems in a report on Thursday, August 9th. Zacks Investment Research raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Saturday, August 11th. Robert W. Baird reaffirmed a “buy” rating and set a $35.00 price objective on shares of Advanced Drainage Systems in a report on Friday, August 10th. Finally, Citigroup upped their price objective on Advanced Drainage Systems from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 23rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $32.25.

In other news, major shareholder Berkshire Partners Holdings Ll acquired 1,500,000 shares of Advanced Drainage Systems stock in a transaction on Tuesday, August 28th. The shares were purchased at an average price of $30.08 per share, with a total value of $45,120,000.00. Following the acquisition, the insider now owns 745,556 shares in the company, valued at $22,426,324.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Ewout Leeuwenburg sold 30,000 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $31.42, for a total value of $942,600.00. Following the transaction, the senior vice president now directly owns 73,062 shares in the company, valued at approximately $2,295,608.04. The disclosure for this sale can be found here. 20.97% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in shares of Advanced Drainage Systems by 15.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 824,943 shares of the construction company’s stock valued at $21,366,000 after acquiring an additional 110,262 shares during the last quarter. Millennium Management LLC raised its position in shares of Advanced Drainage Systems by 36.8% during the 1st quarter. Millennium Management LLC now owns 196,471 shares of the construction company’s stock valued at $5,089,000 after acquiring an additional 52,800 shares during the last quarter. Daiwa SB Investments Ltd. bought a new stake in shares of Advanced Drainage Systems during the 2nd quarter valued at $4,552,000. Algert Global LLC raised its position in shares of Advanced Drainage Systems by 55.7% during the 2nd quarter. Algert Global LLC now owns 47,981 shares of the construction company’s stock valued at $1,370,000 after acquiring an additional 17,157 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Advanced Drainage Systems by 44.4% during the 2nd quarter. First Trust Advisors LP now owns 362,455 shares of the construction company’s stock valued at $10,348,000 after acquiring an additional 111,452 shares during the last quarter. 76.58% of the stock is currently owned by hedge funds and other institutional investors.

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Advanced Drainage Systems Company Profile

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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Earnings History for Advanced Drainage Systems (NYSE:WMS)

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