Advanced Drainage Systems (NYSE:WMS) Announces Quarterly Earnings Results

Advanced Drainage Systems (NYSE:WMS) released its quarterly earnings results on Thursday. The construction company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.41), Briefing.com reports. Advanced Drainage Systems had a negative net margin of 12.86% and a positive return on equity of 34.94%. The company had revenue of $495.90 million during the quarter, compared to the consensus estimate of $473.84 million. During the same period in the prior year, the company earned $0.45 earnings per share. The firm’s revenue was up 22.0% compared to the same quarter last year.

Shares of WMS traded down $0.04 during mid-day trading on Friday, hitting $37.96. 481,781 shares of the company’s stock were exchanged, compared to its average volume of 325,136. Advanced Drainage Systems has a 52 week low of $23.04 and a 52 week high of $39.69. The stock’s 50-day simple moving average is $34.98 and its 200-day simple moving average is $32.04. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 31.11 and a beta of 0.94. The company has a quick ratio of 1.03, a current ratio of 1.97 and a debt-to-equity ratio of 1.59.

In other news, Director Ross M. Jones purchased 2,000,000 shares of Advanced Drainage Systems stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average price of $29.75 per share, for a total transaction of $59,500,000.00. Following the transaction, the director now owns 10,507 shares of the company’s stock, valued at approximately $312,583.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Roy E. Jr. Moore purchased 67,000 shares of Advanced Drainage Systems stock in a transaction that occurred on Tuesday, September 10th. The shares were purchased at an average price of $29.75 per share, for a total transaction of $1,993,250.00. Following the transaction, the executive vice president now directly owns 78,288 shares in the company, valued at approximately $2,329,068. The disclosure for this purchase can be found here. Insiders have bought 2,462,193 shares of company stock worth $73,912,528 over the last ninety days. Insiders own 20.84% of the company’s stock.

WMS has been the topic of several recent research reports. ValuEngine cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Barclays raised their target price on shares of Advanced Drainage Systems from $29.00 to $35.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 6th. Zacks Investment Research reaffirmed a “hold” rating and set a $38.00 target price on shares of Advanced Drainage Systems in a report on Saturday, October 12th. TheStreet cut shares of Advanced Drainage Systems from a “b” rating to a “c” rating in a report on Friday, August 2nd. Finally, Robert W. Baird set a $68.00 target price on shares of Advanced Drainage Systems and gave the stock a “hold” rating in a report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, Advanced Drainage Systems has a consensus rating of “Hold” and a consensus target price of $42.00.

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.

Further Reading: Bid-Ask Spread

Earnings History for Advanced Drainage Systems (NYSE:WMS)

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