Advanced Drainage Systems Inc (WMS) Expected to Announce Quarterly Sales of $264.49 Million

Wall Street analysts forecast that Advanced Drainage Systems Inc (NYSE:WMS) will announce sales of $264.49 million for the current quarter, Zacks reports. Two analysts have issued estimates for Advanced Drainage Systems’ earnings. The lowest sales estimate is $261.83 million and the highest is $267.14 million. Advanced Drainage Systems reported sales of $250.11 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, June 4th.

According to Zacks, analysts expect that Advanced Drainage Systems will report full-year sales of $1.40 billion for the current fiscal year, with estimates ranging from $1.39 billion to $1.40 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.46 billion, with estimates ranging from $1.44 billion to $1.47 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Advanced Drainage Systems.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, February 7th. The construction company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.06). Advanced Drainage Systems had a net margin of 4.98% and a return on equity of 37.87%. The business had revenue of $318.11 million during the quarter, compared to analyst estimates of $339.61 million. During the same period in the prior year, the business posted $0.28 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year.

A number of brokerages recently weighed in on WMS. Barclays lowered their price target on shares of Advanced Drainage Systems from $30.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday, December 12th. Zacks Investment Research raised shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Saturday, December 1st. ValuEngine cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Monday, November 12th. Citigroup lowered their price objective on shares of Advanced Drainage Systems from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, November 12th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Advanced Drainage Systems in a research note on Friday, November 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $30.50.

Shares of NYSE:WMS traded down $0.06 during trading on Wednesday, reaching $24.35. The stock had a trading volume of 275,300 shares, compared to its average volume of 349,461. Advanced Drainage Systems has a 52 week low of $23.04 and a 52 week high of $33.50. The company has a current ratio of 2.24, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $1.40 billion, a P/E ratio of 30.06 and a beta of 1.01.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Thursday, February 28th. Advanced Drainage Systems’s payout ratio is currently 39.51%.

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc increased its stake in shares of Advanced Drainage Systems by 6.3% in the third quarter. Vanguard Group Inc now owns 3,493,825 shares of the construction company’s stock worth $107,959,000 after purchasing an additional 206,839 shares in the last quarter. Daiwa SB Investments Ltd. lifted its holdings in shares of Advanced Drainage Systems by 48.2% in the 4th quarter. Daiwa SB Investments Ltd. now owns 212,289 shares of the construction company’s stock worth $5,148,000 after acquiring an additional 69,066 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Advanced Drainage Systems by 12.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,943,128 shares of the construction company’s stock worth $60,041,000 after acquiring an additional 219,049 shares during the last quarter. Calamos Advisors LLC bought a new stake in shares of Advanced Drainage Systems in the 3rd quarter worth approximately $408,000. Finally, Janney Montgomery Scott LLC bought a new stake in Advanced Drainage Systems during the 3rd quarter valued at $209,000. 79.62% of the stock is currently owned by institutional investors and hedge funds.

About Advanced Drainage Systems

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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