Boenning Scattergood Comments on Advanced Drainage Systems Inc.’s Q2 2017 Earnings (WMS)
Advanced Drainage Systems Inc. (NYSE:WMS) – Investment analysts at Boenning Scattergood dropped their Q2 2017 earnings estimates for Advanced Drainage Systems in a report released on Friday. Boenning Scattergood analyst R. Connors now expects that the brokerage will post earnings per share of $0.28 for the quarter, down from their previous forecast of $0.32. Boenning Scattergood currently has a “Neutral” rating on the stock.
A number of other research firms have also recently commented on WMS. Zacks Investment Research cut Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research note on Thursday, August 11th. TheStreet raised Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research note on Thursday. Royal Bank Of Canada lowered their price target on Advanced Drainage Systems from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Friday. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $26.00 price target (down previously from $29.00) on shares of Advanced Drainage Systems in a report on Saturday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $27.75.
Shares of Advanced Drainage Systems (NYSE:WMS) opened at 22.16 on Monday. Advanced Drainage Systems has a 12-month low of $17.72 and a 12-month high of $32.40. The firm has a 50 day moving average price of $23.67 and a 200-day moving average price of $24.62. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 82.07 and a beta of 0.85.
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Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, October 6th. The company reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.13. Advanced Drainage Systems had a return on equity of 120.26% and a net margin of 1.60%. The company earned $358 million during the quarter.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a dividend of $0.06 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 1.08%.
Hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in Advanced Drainage Systems during the fourth quarter worth $7,845,000. BlackRock Inc. raised its stake in Advanced Drainage Systems by 11.3% in the first quarter. BlackRock Inc. now owns 14,542 shares of the company’s stock worth $309,000 after buying an additional 1,477 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Advanced Drainage Systems by 1.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 846,687 shares of the company’s stock worth $18,034,000 after buying an additional 10,427 shares in the last quarter. Credit Agricole S A raised its stake in Advanced Drainage Systems by 721.3% in the first quarter. Credit Agricole S A now owns 155,000 shares of the company’s stock worth $3,301,000 after buying an additional 136,128 shares in the last quarter. Finally, Zelman Capital LLC raised its stake in Advanced Drainage Systems by 3.0% in the first quarter. Zelman Capital LLC now owns 332,927 shares of the company’s stock worth $7,091,000 after buying an additional 9,748 shares in the last quarter. Institutional investors own 70.62% of the company’s stock.
About Advanced Drainage Systems
Advanced Drainage Systems, Inc designs, manufactures and markets thermoplastic corrugated pipe and related water management products. The Company operates through two segments: Domestic and International. Its product line includes corrugated high density polyethylene (HDPE) pipe, polypropylene (PP) pipe and related water management products.
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