Analysts Anticipate Ashland Global Holdings Inc. (ASH) to Post $0.69 EPS

Equities analysts predict that Ashland Global Holdings Inc. (NYSE:ASH) will post $0.69 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Ashland Global Holdings’ earnings. The lowest EPS estimate is $0.45 and the highest is $0.82. Ashland Global Holdings posted earnings per share of $1.52 in the same quarter last year, which would suggest a negative year over year growth rate of 54.6%. The firm is expected to issue its next quarterly earnings results on Tuesday, November 14th.

On average, analysts expect that Ashland Global Holdings will report full-year earnings of $4.38 per share for the current year, with EPS estimates ranging from $4.15 to $4.50. For the next year, analysts forecast that the business will report earnings of $3.33 per share, with EPS estimates ranging from $2.90 to $3.58. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Ashland Global Holdings.

Ashland Global Holdings (NYSE:ASH) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.13. Ashland Global Holdings had a negative net margin of 4.71% and a positive return on equity of 10.62%. The business had revenue of $870.00 million during the quarter, compared to the consensus estimate of $842.78 million. During the same quarter last year, the firm posted $1.95 EPS. The business’s revenue was up 10.1% compared to the same quarter last year.

Several equities research analysts recently weighed in on the stock. Jefferies Group LLC reaffirmed a “buy” rating on shares of Ashland Global Holdings in a report on Friday, June 23rd. Zacks Investment Research downgraded shares of Ashland Global Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. BidaskClub cut shares of Ashland Global Holdings from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Deutsche Bank AG dropped their price target on shares of Ashland Global Holdings from $75.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. Finally, TheStreet cut shares of Ashland Global Holdings from a “b” rating to a “c+” rating in a research report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $88.83.

Institutional investors have recently modified their holdings of the business. Neuberger Berman Group LLC raised its position in Ashland Global Holdings by 12.5% in the second quarter. Neuberger Berman Group LLC now owns 1,336,608 shares of the basic materials company’s stock worth $88,096,000 after acquiring an additional 148,879 shares in the last quarter. Condor Capital Management raised its position in Ashland Global Holdings by 92.7% in the second quarter. Condor Capital Management now owns 26,801 shares of the basic materials company’s stock worth $1,766,000 after acquiring an additional 12,895 shares in the last quarter. Atlantic Trust Group LLC raised its position in Ashland Global Holdings by 4.8% in the second quarter. Atlantic Trust Group LLC now owns 63,161 shares of the basic materials company’s stock worth $4,163,000 after acquiring an additional 2,913 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Ashland Global Holdings in the second quarter worth about $54,562,000. Finally, JPMorgan Chase & Co. raised its position in Ashland Global Holdings by 79.6% in the second quarter. JPMorgan Chase & Co. now owns 224,459 shares of the basic materials company’s stock worth $14,795,000 after acquiring an additional 99,482 shares in the last quarter. Hedge funds and other institutional investors own 92.47% of the company’s stock.

Ashland Global Holdings (ASH) opened at 66.60 on Wednesday. The stock’s market capitalization is $4.16 billion. The firm’s 50-day moving average is $64.21 and its 200 day moving average is $63.82. Ashland Global Holdings has a 12-month low of $51.61 and a 12-month high of $67.90.

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Ashland Global Holdings Company Profile

Ashland Inc is engaged in specialty chemicals, and through Valvoline, is a consumer-branded lubricant supplier. The Company operates in three segments: Ashland Specialty Ingredients (Specialty Ingredients), Ashland Performance Materials (Performance Materials) and Valvoline. Its Specialty Ingredients segment is engaged in providing cellulose ethers, vinyl pyrrolidones and biofunctionals, and consists of two divisions: Consumer Specialties and Industrial Specialties.

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Earnings History and Estimates for Ashland Global Holdings (NYSE:ASH)

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