Stock Alert: Advanced Drainage Systems Inc. (WMS) Shares Hit 52-Week High

(RTTNews) - Shares of Advanced Drainage Systems Inc. (WMS) touched a 52-week high of $46.49 on Feb. 6, and closed Thursday's trading session at $46.44, up $3.52 or 8.20%.

The company reported Q4 net income was $19.1 million or $0.28 per share versus $14.3 million or $0.25 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.33 per share for the quarter. Analysts' estimate typically exclude certain special items. Net sales increased 23.7% to $393.4 million from $318.1 million generated a year ago.

Advanced Drainage Systems expects full-year fiscal 2020 net sales and Adjusted EBITDA to be at the higher end of previously communicated guidance ranges. Net sales are now expected to be in the range of $1.600 billion - $1.650 billion. Four Wall Street analysts have a consensus revenue estimate of $1.64 billion for 2020.

The company's Board approved a quarterly cash dividend of $0.09 per share, payable on March 16, to shareholders of record on March 2, 2020.