Analysts expect that Ashland Global Holdings Inc (NYSE:ASH) will post $670.06 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Ashland Global’s earnings, with the lowest sales estimate coming in at $658.04 million and the highest estimate coming in at $675.00 million. Ashland Global posted sales of $971.00 million in the same quarter last year, which suggests a negative year-over-year growth rate of 31%. The business is scheduled to issue its next earnings report on Tuesday, July 30th.
On average, analysts expect that Ashland Global will report full-year sales of $2.58 billion for the current financial year, with estimates ranging from $2.53 billion to $2.60 billion. For the next financial year, analysts forecast that the company will report sales of $2.69 billion, with estimates ranging from $2.64 billion to $2.72 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Ashland Global.
Ashland Global (NYSE:ASH) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $667.00 million for 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%. Ashland Global’s quarterly revenue was down 31.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 EPS.
A number of equities research analysts recently weighed in on ASH shares. Credit Suisse Group restated a “buy” rating and set a $90.00 price objective on shares of Ashland Global in a research report on Monday, February 4th. TheStreet upgraded Ashland Global from a “c+” rating to a “b” rating in a research report on Wednesday, May 1st. Zacks Investment Research lowered Ashland Global from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Finally, ValuEngine lowered Ashland Global from a “buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. Ashland Global has a consensus rating of “Buy” and an average price target of $89.80.
In other Ashland Global news, insider William J. Heitman sold 7,203 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $79.49, for a total value of $572,566.47. Following the sale, the insider now owns 6,303 shares in the company, valued at approximately $501,025.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Peter Ganz sold 1,562 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were 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 in the company, valued at approximately $2,983,948. The disclosure for this sale can be found here. Insiders sold a total of 17,221 shares of company stock worth $1,359,296 in the last quarter. 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 business. JPMorgan Chase & Co. boosted its position in shares of Ashland Global by 46.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 131,416 shares of the basic materials company’s stock valued at $11,022,000 after purchasing an additional 41,963 shares in the last quarter. Federated Investors Inc. PA boosted its position in shares of Ashland Global by 1.7% during the 3rd quarter. Federated Investors Inc. PA now owns 131,120 shares of the basic materials company’s stock valued at $10,996,000 after purchasing an additional 2,162 shares in the last quarter. Vanguard Group Inc boosted its position in shares of Ashland Global by 2.7% during the 3rd quarter. Vanguard Group Inc now owns 5,730,773 shares of the basic materials company’s stock valued at $480,582,000 after purchasing an additional 152,555 shares in the last quarter. Dubuque Bank & Trust Co. bought a new stake in shares of Ashland Global during the 4th quarter valued at about $222,000. Finally, Fox Run Management L.L.C. boosted its position in shares of Ashland Global by 92.3% during the 4th quarter. Fox Run Management L.L.C. now owns 8,326 shares of the basic materials company’s stock valued at $591,000 after purchasing an additional 3,996 shares in the last quarter. Hedge funds and other institutional investors own 92.98% of the company’s stock.
ASH stock traded down $1.30 during midday trading on Thursday, reaching $72.60. 833,733 shares of the stock were exchanged, compared to its average volume of 832,008. The firm has a market capitalization of $4.55 billion, a P/E ratio of 20.28, a P/E/G ratio of 2.42 and a beta of 1.30. Ashland Global has a 52 week low of $64.93 and a 52 week high of $86.63. The company has a quick ratio of 1.62, a current ratio of 2.27 and a debt-to-equity ratio of 0.68.
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.
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