Zacks: Brokerages Anticipate Advanced Drainage Systems Inc (WMS) Will Post Quarterly Sales of $339.59 Million

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Analysts expect Advanced Drainage Systems Inc (NYSE:WMS) to post $339.59 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Advanced Drainage Systems’ earnings, with the lowest sales estimate coming in at $336.33 million and the highest estimate coming in at $342.85 million. Advanced Drainage Systems posted sales of $320.83 million during the same quarter last year, which suggests a positive year-over-year growth rate of 5.8%. The company is expected to announce its next quarterly earnings results on Thursday, February 14th.

On average, analysts expect that Advanced Drainage Systems will report full year sales of $1.39 billion for the current financial year, with estimates ranging from $1.38 billion to $1.40 billion. For the next year, analysts anticipate that the firm will post sales of $1.46 billion, with estimates ranging from $1.44 billion to $1.47 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Advanced Drainage Systems.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, November 8th. The construction company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Advanced Drainage Systems had a net margin of 6.20% and a return on equity of 46.15%. The business had revenue of $406.56 million for the quarter, compared to the consensus estimate of $417.03 million. During the same period last year, the firm earned $0.29 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis.

WMS has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Advanced Drainage Systems from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Saturday, October 13th. Citigroup reduced their price objective on shares of Advanced Drainage Systems from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Monday, November 12th. Barclays reduced their price objective on shares of Advanced Drainage Systems from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 12th. Robert W. Baird reduced their price objective on shares of Advanced Drainage Systems from $35.00 to $34.00 and set an “outperform” rating for the company in a research note on Monday, November 12th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Advanced Drainage Systems in a research note on Friday, November 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Advanced Drainage Systems presently has a consensus rating of “Hold” and an average price target of $30.50.

WMS traded up $0.30 during trading on Monday, hitting $25.40. The company’s stock had a trading volume of 488,250 shares, compared to its average volume of 173,352. The company has a current ratio of 2.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.54. Advanced Drainage Systems has a one year low of $21.70 and a one year high of $33.50. The company has a market capitalization of $1.45 billion, a PE ratio of 31.36 and a beta of 1.06.

Several hedge funds and other institutional investors have recently made changes to their positions in WMS. BlackRock Inc. increased its stake in shares of Advanced Drainage Systems by 30.4% in the second quarter. BlackRock Inc. now owns 3,099,765 shares of the construction company’s stock worth $88,498,000 after purchasing an additional 723,150 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Advanced Drainage Systems by 12.7% in the third quarter. JPMorgan Chase & Co. now owns 1,943,128 shares of the construction company’s stock worth $60,041,000 after purchasing an additional 219,049 shares in the last quarter. 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. 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. Finally, Dimensional Fund Advisors LP increased its stake in shares of Advanced Drainage Systems by 22.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,009,560 shares of the construction company’s stock worth $28,823,000 after purchasing an additional 184,617 shares in the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

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.

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