Zacks: Brokerages Anticipate Ashland Global Holdings Inc. (ASH) Will Post Earnings of $0.84 Per Share

Wall Street analysts expect that Ashland Global Holdings Inc. (NYSE:ASH) will report earnings of $0.84 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Ashland Global’s earnings, with the highest EPS estimate coming in at $0.88 and the lowest estimate coming in at $0.82. Ashland Global posted earnings of $1.71 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 50.9%. The firm is expected to announce its next earnings report on Tuesday, April 24th.

On average, analysts expect that Ashland Global will report full-year earnings of $3.20 per share for the current year, with EPS estimates ranging from $2.95 to $3.45. For the next financial year, analysts forecast that the firm will post earnings of $3.69 per share, with EPS estimates ranging from $3.25 to $3.86. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Ashland Global.

Ashland Global (NYSE:ASH) last issued its earnings results on Monday, January 29th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.01). Ashland Global had a positive return on equity of 7.14% and a negative net margin of 0.08%. The business had revenue of $842.00 million during the quarter, compared to the consensus estimate of $842.05 million. During the same period in the prior year, the business earned $1.16 EPS.

ASH has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Ashland Global from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Tuesday, October 24th. Jefferies Group restated a “buy” rating on shares of Ashland Global in a research note on Tuesday, January 30th. Credit Suisse Group raised their price target 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. Seaport Global Securities restated a “buy” rating and issued a $81.00 price target on shares of Ashland Global in a research note on Wednesday, January 31st. Finally, SunTrust Banks raised their price target on shares of Ashland Global to $83.00 and gave the company a “buy” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Ashland Global presently has a consensus rating of “Hold” and an average target price of $83.00.

In related news, insider Anne T. Schumann sold 11,733 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $73.26, for a total transaction of $859,559.58. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO J Kevin Willis sold 8,152 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $70.70, for a total transaction of $576,346.40. The disclosure for this sale can be found here. Insiders sold 32,887 shares of company stock worth $2,376,874 in the last 90 days. 1.14% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Boussard & Gavaudan Investment Management LLP acquired a new position in shares of Ashland Global during the third quarter valued at approximately $6,850,000. Dimensional Fund Advisors LP increased its stake in shares of Ashland Global by 4.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,157,066 shares of the basic materials company’s stock valued at $75,662,000 after acquiring an additional 51,277 shares during the period. Legal & General Group Plc increased its stake in shares of Ashland Global by 0.6% during the third quarter. Legal & General Group Plc now owns 288,270 shares of the basic materials company’s stock valued at $18,851,000 after acquiring an additional 1,844 shares during the period. First Financial Bank Trust Division acquired a new position in shares of Ashland Global during the fourth quarter valued at approximately $2,350,000. Finally, Fox Run Management L.L.C. increased its stake in shares of Ashland Global by 29.8% during the fourth quarter. Fox Run Management L.L.C. now owns 9,865 shares of the basic materials company’s stock valued at $702,000 after acquiring an additional 2,265 shares during the period. Institutional investors and hedge funds own 90.35% of the company’s stock.

Shares of Ashland Global (NYSE:ASH) traded down $0.90 during midday trading on Monday, reaching $72.24. 1,279,400 shares of the company’s stock were exchanged, compared to its average volume of 1,407,012. Ashland Global has a 1 year low of $59.42 and a 1 year high of $77.16. The company has a market capitalization of $4,495.41, a PE ratio of -1,204.00, a P/E/G ratio of 2.26 and a beta of 1.13. The company has a quick ratio of 1.29, a current ratio of 1.96 and a debt-to-equity ratio of 0.76.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a $0.225 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.90 annualized dividend and a dividend yield of 1.25%. Ashland Global’s payout ratio is currently -1,500.00%.

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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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