Wall Street analysts expect Ashland Global Holdings Inc (NYSE:ASH) to announce earnings per share (EPS) of $0.86 for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Ashland Global’s earnings, with the lowest EPS estimate coming in at $0.80 and the highest estimate coming in at $0.93. Ashland Global posted earnings of $1.13 per share during the same quarter last year, which would suggest a negative year over year growth rate of 23.9%. The firm is expected to report its next earnings results on Tuesday, July 30th.
According to Zacks, analysts expect that Ashland Global will report full year earnings of $2.98 per share for the current fiscal year, with EPS estimates ranging from $2.82 to $3.15. For the next fiscal year, analysts expect that the business will report earnings of $4.00 per share, with EPS estimates ranging from $3.50 to $4.55. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Ashland Global.
Ashland Global (NYSE:ASH) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The firm had revenue of $667.00 million during the quarter, compared to analyst estimates of $680.96 million. Ashland Global had a return on equity of 5.79% and a net margin of 2.30%. The business’s quarterly revenue was down 31.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.06 earnings per share.
A number of research firms have recently weighed in on ASH. ValuEngine raised Ashland Global from a “hold” rating to a “buy” rating in a research note on Tuesday, June 4th. Zacks Investment Research lowered Ashland Global from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Finally, TheStreet raised Ashland Global from a “c+” rating to a “b” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $89.15.
Shares of NYSE:ASH traded down $0.26 during trading on Thursday, reaching $78.47. 14,651 shares of the company traded hands, compared to its average volume of 989,923. The firm has a market cap of $4.88 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 2.60 and a beta of 1.27. Ashland Global has a 52-week low of $64.93 and a 52-week high of $86.63. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.62 and a current ratio of 2.27.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Monday, June 3rd will be issued a $0.275 dividend. This is an increase from Ashland Global’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, May 31st. This represents a $1.10 dividend on an annualized basis and a yield of 1.40%. Ashland Global’s dividend payout ratio is 30.73%.
In related news, insider Osama M. Musa sold 2,156 shares of Ashland Global stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $78.87, for a total value of $170,043.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter Ganz sold 1,562 shares of Ashland Global stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $74.32, for a total value of $116,087.84. Following the completion of the sale, the insider now owns 40,150 shares of the company’s stock, valued at $2,983,948. The disclosure for this sale can be found here. Insiders have sold 17,221 shares of company stock valued at $1,359,296 over the last 90 days. Corporate insiders own 1.14% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC boosted its position in Ashland Global by 38.7% in the first quarter. Neuberger Berman Group LLC now owns 2,400,155 shares of the basic materials company’s stock worth $187,524,000 after purchasing an additional 669,069 shares during the last quarter. Morgan Stanley boosted its position in Ashland Global by 899.8% in the first quarter. Morgan Stanley now owns 720,400 shares of the basic materials company’s stock worth $56,284,000 after purchasing an additional 648,342 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Ashland Global by 564.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 671,495 shares of the basic materials company’s stock worth $56,345,000 after purchasing an additional 570,385 shares during the last quarter. Norges Bank purchased a new position in Ashland Global in the fourth quarter worth about $30,610,000. Finally, Millennium Management LLC boosted its position in Ashland Global by 1,099.1% in the fourth quarter. Millennium Management LLC now owns 464,606 shares of the basic materials company’s stock worth $32,968,000 after purchasing an additional 425,860 shares during the last quarter. Institutional investors own 95.11% of the company’s stock.
Ashland Global Company Profile
Ashland Global Holdings Inc provides specialty chemical solutions worldwide. The company's Specialty Ingredients segment offers products, technologies, and resources for solving formulation and product-performance challenges. It provides solutions using natural, synthetic, and semisynthetic polymers derived from cellulose ethers, vinyl pyrrolidones, acrylic polymers, polyester and polyurethane-based adhesives, and plant and seed extracts.
Read More: Return on Investment (ROI) Defined, Explained
Get a free copy of the Zacks research report on Ashland Global (ASH)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ashland Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ashland Global and related companies with MarketBeat.com's FREE daily email newsletter.