Advanced Drainage Systems Inc. (WMS) Set to Announce Quarterly Earnings on Friday

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Advanced Drainage Systems Inc. (NYSE:WMS) is scheduled to post its Q1 quarterly earnings results before the market opens on Friday, September 16th. Analysts expect Advanced Drainage Systems to post earnings of $0.25 per share for the quarter.
Shares of Advanced Drainage Systems Inc. (NYSE:WMS) opened at 23.13 on Thursday. Advanced Drainage Systems Inc. has a 1-year low of $17.72 and a 1-year high of $33.06. The stock’s 50 day moving average is $24.96 and its 200 day moving average is $24.31. The company has a market capitalization of $1.26 billion, a PE ratio of 77.10 and a beta of 0.86.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.04%. The ex-dividend date is Tuesday, August 30th.

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WMS has been the subject of several analyst reports. Zacks Investment Research cut shares of Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a research note on Friday, June 10th. Royal Bank Of Canada lifted their price objective on shares of Advanced Drainage Systems from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 8th. Deutsche Bank AG restated a “hold” rating and issued a $25.00 target price (up from $24.00) on shares of Advanced Drainage Systems in a research report on Wednesday, June 8th. TheStreet upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, June 7th. Finally, Boenning Scattergood cut shares of Advanced Drainage Systems from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Advanced Drainage Systems currently has an average rating of “Hold” and an average price target of $29.33.
A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Advanced Drainage Systems by 9.4% in the second quarter. BlackRock Inc. now owns 15,906 shares of the company’s stock worth $435,000 after buying an additional 1,364 shares in the last quarter. BlackRock Advisors LLC boosted its position in Advanced Drainage Systems by 5.5% in the second quarter. BlackRock Advisors LLC now owns 16,549 shares of the company’s stock worth $453,000 after buying an additional 858 shares in the last quarter. American International Group Inc. boosted its position in Advanced Drainage Systems by 1.2% in the second quarter. American International Group Inc. now owns 19,994 shares of the company’s stock worth $547,000 after buying an additional 238 shares in the last quarter. Rhumbline Advisers boosted its position in Advanced Drainage Systems by 7.1% in the second quarter. Rhumbline Advisers now owns 34,436 shares of the company’s stock worth $943,000 after buying an additional 2,279 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in Advanced Drainage Systems during the second quarter worth about $1,069,000. Institutional investors and hedge funds own 71.19% of the company’s stock.
About Advanced Drainage Systems
Advanced Drainage Systems, Inc designs, manufactures and markets thermoplastic corrugated pipe and related water management products. The Company operates through two segments: Domestic and International. Its product line includes corrugated high density polyethylene (HDPE) pipe, polypropylene (PP) pipe and related water management products.

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