Advanced Drainage Systems, Inc. (WMS) Posts Earnings Results, Misses Estimates By $0.08 EPS
Advanced Drainage Systems, Inc. (NYSE:WMS) posted its earnings results on Thursday. The construction company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.08), Bloomberg Earnings reports. The company had revenue of $401.00 million during the quarter, compared to the consensus estimate of $376.45 million. Advanced Drainage Systems had a return on equity of 48.83% and a net margin of 1.97%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $0.35 EPS.
Shares of Advanced Drainage Systems (WMS) traded up $1.95 during midday trading on Friday, reaching $21.30. 748,475 shares of the company were exchanged, compared to its average volume of 368,278. The company has a debt-to-equity ratio of 6.16, a quick ratio of 1.02 and a current ratio of 2.17. The firm has a market cap of $1,127.02, a P/E ratio of 58.29 and a beta of 0.92.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.31%. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 75.68%.
In related news, EVP Robert M. Klein sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $20.77, for a total value of $415,400.00. Following the completion of the transaction, the executive vice president now owns 340,205 shares in the company, valued at approximately $7,066,057.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Berkshire Partners Holdings Ll acquired 3,446,293 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was acquired at an average price of $20.32 per share, with a total value of $70,028,673.76. The disclosure for this purchase can be found here. 21.43% of the stock is owned by company insiders.
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A number of research firms have recently commented on WMS. Robert W. Baird increased their target price on shares of Advanced Drainage Systems from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday. ValuEngine raised shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Tuesday. TheStreet cut shares of Advanced Drainage Systems from a “b-” rating to a “c+” rating in a report on Wednesday, October 25th. Zacks Investment Research raised shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Finally, BidaskClub cut shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Advanced Drainage Systems currently has an average rating of “Hold” and an average price target of $24.33.
About Advanced Drainage Systems
Advanced Drainage Systems, Inc is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States.
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