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

Advanced Drainage Systems, Inc. (NYSE:WMS) declared a quarterly dividend on Thursday, February 6th,RTT News reports. Stockholders of record on Friday, February 28th will be given a dividend of 0.16 per share by the construction company on Friday, March 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.55%.

Advanced Drainage Systems has increased its dividend payment by an average of 13.9% annually over the last three years. Advanced Drainage Systems has a payout ratio of 8.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Advanced Drainage Systems to earn $6.70 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 9.6%.

Advanced Drainage Systems Price Performance

Advanced Drainage Systems stock opened at $116.67 on Thursday. The firm has a market cap of $9.04 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.16 and a beta of 1.52. Advanced Drainage Systems has a 52-week low of $110.75 and a 52-week high of $184.27. The company’s 50 day moving average is $121.95 and its two-hundred day moving average is $140.87. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.97.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, February 6th. The construction company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. On average, research analysts expect that Advanced Drainage Systems will post 6.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. KeyCorp dropped 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 note on Monday, November 11th. UBS Group raised Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research note on Wednesday, January 8th. Oppenheimer decreased their price objective on Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Stephens reiterated an “equal weight” rating and issued a $135.00 price objective (down previously from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday, November 13th. Finally, Barclays dropped their target price on Advanced Drainage Systems from $172.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $166.88.

Advanced Drainage Systems Company Profile

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.