Zacks: Analysts Expect Ashland Global Holdings Inc. (ASH) Will Post Earnings of $0.47 Per Share

Wall Street analysts expect Ashland Global Holdings Inc. (NYSE:ASH) to post $0.47 earnings per share for the current quarter, according to Zacks. Three analysts have made estimates for Ashland Global’s earnings. The highest EPS estimate is $0.57 and the lowest is $0.42. Ashland Global posted earnings of $1.16 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 59.5%. The firm is scheduled to issue its next earnings report after the market closes on Monday, January 29th.

According to Zacks, analysts expect that Ashland Global will report full year earnings of $3.42 per share for the current fiscal year, with EPS estimates ranging from $3.27 to $3.60. For the next financial year, analysts expect that the firm will post earnings of $3.97 per share, with EPS estimates ranging from $3.85 to $4.04. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover Ashland Global.

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

Several research firms have recently commented on ASH. Zacks Investment Research downgraded Ashland Global from a “hold” rating to a “strong sell” rating in a report on Monday, January 15th. SunTrust Banks boosted their price objective on Ashland Global to $83.00 and gave the company a “buy” rating in a report on Friday, December 1st. Credit Suisse Group boosted their price objective on Ashland Global from $65.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, November 8th. Deutsche Bank boosted their price objective on Ashland Global from $74.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Finally, UBS Group boosted their price objective on Ashland Global from $74.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $82.57.

In related news, CFO J Kevin Willis sold 1,352 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $66.23, for a total transaction of $89,542.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anne T. Schumann sold 11,733 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $73.26, for a total value of $859,559.58. The disclosure for this sale can be found here. Insiders have sold 36,582 shares of company stock valued at $2,633,323 in the last quarter. 1.14% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Chicago Partners Investment Group LLC grew its holdings 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 in the last quarter. Sawyer & Company Inc bought a new stake in Ashland Global during the fourth quarter worth $157,000. Commonwealth Equity Services Inc bought a new stake in Ashland Global during the third quarter worth $234,000. State of Alaska Department of Revenue bought a new stake in Ashland Global during the fourth quarter worth $263,000. Finally, Sciencast Management LP bought a new stake in Ashland Global during the second quarter worth $271,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

Ashland Global (ASH) traded up $1.36 during midday trading on Tuesday, hitting $74.33. The stock had a trading volume of 1,130,793 shares, compared to its average volume of 386,665. The company has a market capitalization of $4,625.18, a P/E ratio of -7,433,000.00, a price-to-earnings-growth ratio of 2.18 and a beta of 1.11. Ashland Global has a 52-week low of $59.80 and a 52-week 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.

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Ashland Global 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 (NYSE:ASH)

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