Advanced Drainage Systems, Inc. (WMS) Issues Earnings Results, Misses Estimates By $0.06 EPS
Advanced Drainage Systems, Inc. (NYSE:WMS) announced its quarterly earnings data on Thursday. The construction company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.06, Bloomberg Earnings reports. Advanced Drainage Systems had a return on equity of 102.23% and a net margin of 3.05%. The company had revenue of $358.36 million for the quarter, compared to analysts’ expectations of $372.63 million. During the same quarter in the previous year, the business posted $0.29 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year.
Advanced Drainage Systems (WMS) traded up 3.479% during midday trading on Friday, reaching $20.075. The company’s stock had a trading volume of 278,643 shares. The company has a 50 day moving average price of $20.27 and a 200 day moving average price of $21.82. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 40.150 and a beta of 0.92. Advanced Drainage Systems has a 1-year low of $18.60 and a 1-year high of $27.32.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.44%. Advanced Drainage Systems’s payout ratio is 50.00%.
In related news, Chairman Joseph A. Chlapaty acquired 10,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was acquired at an average price of $20.28 per share, with a total value of $202,800.00. Following the completion of the transaction, the chairman now owns 227,786 shares of the company’s stock, valued at $4,619,500.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph A. Chlapaty acquired 30,000 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were bought at an average cost of $19.39 per share, with a total value of $581,700.00. Following the transaction, the chief executive officer now directly owns 227,786 shares of the company’s stock, valued at approximately $4,416,770.54. The disclosure for this purchase can be found here. 21.43% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its position in shares of Advanced Drainage Systems by 133.4% in the second quarter. BNP Paribas Arbitrage SA now owns 5,259 shares of the construction company’s stock worth $106,000 after buying an additional 3,006 shares in the last quarter. Sei Investments Co. bought a new position in shares of Advanced Drainage Systems during the first quarter worth approximately $157,000. Manchester Capital Management LLC raised its position in shares of Advanced Drainage Systems by 3,123.3% in the first quarter. Manchester Capital Management LLC now owns 9,670 shares of the construction company’s stock worth $212,000 after buying an additional 9,370 shares in the last quarter. Gotham Asset Management LLC bought a new position in shares of Advanced Drainage Systems during the first quarter worth approximately $238,000. Finally, Paloma Partners Management Co bought a new position in shares of Advanced Drainage Systems during the first quarter worth approximately $295,000. 79.62% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently commented on WMS shares. Zacks Investment Research upgraded Advanced Drainage Systems from a “sell” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Thursday, July 13th. Royal Bank Of Canada reiterated a “hold” rating and set a $25.00 price objective on shares of Advanced Drainage Systems in a research report on Monday, April 24th. BidaskClub upgraded Advanced Drainage Systems from a “strong sell” rating to a “sell” rating in a research report on Monday. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Advanced Drainage Systems in a research report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $25.33.
Advanced Drainage Systems Company Profile
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.
Receive News & Ratings for Advanced Drainage Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Drainage Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.