Advanced Drainage Systems, Inc. (NYSE:WMS) Declares $0.20 Quarterly Dividend

Advanced Drainage Systems, Inc. (NYSE:WMS) announced a quarterly dividend on Wednesday, August 5th. Investors of record on Tuesday, September 1st will be paid a dividend of 0.20 per share by the construction company on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 1st.

Advanced Drainage Systems has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Advanced Drainage Systems has a payout ratio of 12.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Advanced Drainage Systems to earn $7.56 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 10.6%.

Advanced Drainage Systems Trading Down 0.6%

NYSE WMS opened at $148.67 on Friday. Advanced Drainage Systems has a twelve month low of $125.10 and a twelve month high of $179.32. The business’s fifty day moving average is $143.75 and its 200 day moving average is $147.99. The company has a quick ratio of 1.35, a current ratio of 2.42 and a debt-to-equity ratio of 0.92. The company has a market cap of $11.39 billion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 1.61 and a beta of 1.27.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, August 6th. The construction company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.39. Advanced Drainage Systems had a net margin of 13.98% and a return on equity of 26.63%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $991.39 million. During the same quarter last year, the business earned $1.95 EPS. The firm’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, sell-side analysts expect that Advanced Drainage Systems will post 6.55 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on WMS. KeyCorp reissued an “overweight” rating on shares of Advanced Drainage Systems in a research report on Monday, June 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Friday, July 17th. Zacks Research raised shares of Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. UBS Group decreased their price objective on shares of Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Finally, Royal Bank Of Canada upped their price target on shares of Advanced Drainage Systems from $168.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $187.00.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.