Advanced Drainage Systems, Inc. (NYSE:WMS) Declares Quarterly Dividend of $0.16

Advanced Drainage Systems, Inc. (NYSE:WMS) announced a quarterly dividend on Friday, November 8th,RTT News reports. Investors of record on Monday, December 2nd will be given a dividend of 0.16 per share by the construction company on Monday, December 16th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 2nd.

Advanced Drainage Systems has raised its dividend payment by an average of 14.5% per year over the last three years. Advanced Drainage Systems has a payout ratio of 9.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Advanced Drainage Systems to earn $7.20 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 8.9%.

Advanced Drainage Systems Price Performance

WMS opened at $135.29 on Friday. The company has a fifty day moving average price of $147.19 and a two-hundred day moving average price of $156.35. The firm has a market capitalization of $10.49 billion, a PE ratio of 21.54, a P/E/G ratio of 1.22 and a beta of 1.53. Advanced Drainage Systems has a 52 week low of $119.26 and a 52 week high of $184.27. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.15 and a current ratio of 3.19.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.23). Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. The company had revenue of $782.60 million during the quarter, compared to the consensus estimate of $819.41 million. During the same quarter in the prior year, the company posted $1.71 EPS. The company’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, analysts anticipate that Advanced Drainage Systems will post 6.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WMS. Loop Capital reduced their price objective on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Stephens reissued an “equal weight” rating and set a $135.00 price target (down from $170.00) on shares of Advanced Drainage Systems in a research report on Wednesday, November 13th. KeyCorp lowered their price objective on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Barclays reduced their target price on Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, Robert W. Baird lowered their price target on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $170.29.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.