$860.18 Million in Sales Expected for Ashland Global Holdings Inc. (ASH) This Quarter

Equities analysts expect that Ashland Global Holdings Inc. (NYSE:ASH) will announce $860.18 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Ashland Global’s earnings, with the highest sales estimate coming in at $891.43 million and the lowest estimate coming in at $838.00 million. Ashland Global reported sales of $1.19 billion during the same quarter last year, which indicates a negative year over year growth rate of 27.7%. The firm is expected to report its next quarterly earnings report after the market closes on Monday, January 29th.

According to Zacks, analysts expect that Ashland Global will report full-year sales of $860.18 million for the current fiscal year, with estimates ranging from $3.41 billion to $3.73 billion. For the next fiscal year, analysts expect that the firm will report sales of $3.76 billion per share, with estimates ranging from $3.57 billion to $3.82 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Ashland Global.

Ashland Global (NYSE:ASH) last announced its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.09. The company had revenue of $880.00 million for the quarter, compared to analyst estimates of $869.62 million. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.52 EPS.

A number of research firms recently weighed in on ASH. Jefferies Group reissued a “buy” rating and issued a $77.00 target price (up previously from $74.00) on shares of Ashland Global in a research note on Tuesday, September 26th. Zacks Investment Research cut shares of Ashland Global from a “hold” rating to a “strong sell” rating in a research note on Monday, January 15th. SunTrust Banks reissued a “buy” rating and issued a $74.00 target price on shares of Ashland Global in a research note on Friday, November 10th. UBS Group upped their target price on shares of Ashland Global from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. Finally, Credit Suisse Group upped their target price on shares of Ashland Global from $65.00 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $82.57.

Ashland Global (NYSE:ASH) traded up $1.36 during midday trading on Thursday, reaching $74.33. 1,130,793 shares of the company were exchanged, compared to its average volume of 386,665. The company has a market capitalization of $4,625.18, a PE ratio of -7,433,000.00, a P/E/G ratio of 2.18 and a beta of 1.11. Ashland Global has a twelve month low of $59.80 and a twelve month high of $128.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.31 and a current ratio of 1.97.

In other Ashland Global news, CFO J Kevin Willis sold 916 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $70.61, for a total transaction of $64,678.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anne T. Schumann sold 11,733 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $73.26, for a total transaction of $859,559.58. The disclosure for this sale can be found here. Insiders have sold 36,582 shares of company stock worth $2,633,323 over the last ninety days. Insiders own 1.14% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Sawyer & Company Inc bought a new stake in Ashland Global during the fourth quarter worth about $157,000. Chicago Partners Investment Group LLC grew its stake in Ashland Global by 600.3% during the third quarter. Chicago Partners Investment Group LLC now owns 2,332 shares of the basic materials company’s stock worth $152,000 after buying an additional 1,999 shares during the last quarter. Commonwealth Equity Services Inc bought a new stake in Ashland Global during the third quarter worth about $234,000. State of Alaska Department of Revenue bought a new stake in Ashland Global during the fourth quarter worth about $263,000. Finally, Sciencast Management LP bought a new stake in Ashland Global during the second quarter worth about $271,000. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

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About Ashland Global

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 (NYSE:ASH)

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