Ashland Global (ASH) Updates Q1 2019 Earnings Guidance

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Ashland Global (NYSE:ASH) updated its first quarter 2019 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.55-0.65 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.54. Ashland Global also updated its FY 2019 guidance to $4.20-4.40 EPS.

A number of equities research analysts have issued reports on the company. Credit Suisse Group set a $95.00 price target on Ashland Global and gave the stock a buy rating in a research note on Sunday. Zacks Investment Research lowered Ashland Global from a hold rating to a strong sell rating in a research note on Tuesday, October 9th. UBS Group increased their price target on Ashland Global from $93.00 to $96.00 and gave the stock a buy rating in a research note on Tuesday, October 2nd. JPMorgan Chase & Co. increased their price target on Ashland Global from $81.00 to $87.00 and gave the stock a neutral rating in a research note on Friday, August 24th. Finally, KeyCorp reiterated a buy rating and issued a $93.00 price target on shares of Ashland Global in a research note on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $90.00.

ASH stock traded up $6.13 during trading on Wednesday, reaching $83.97. The company’s stock had a trading volume of 2,377,900 shares, compared to its average volume of 755,558. Ashland Global has a 1 year low of $64.13 and a 1 year high of $86.63. The firm has a market capitalization of $4.76 billion, a PE ratio of 34.41, a PEG ratio of 1.93 and a beta of 1.28. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.37 and a current ratio of 2.25.

Ashland Global (NYSE:ASH) last released its quarterly earnings data on Tuesday, November 6th. The basic materials company reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. Ashland Global had a net margin of 1.28% and a return on equity of 6.36%. The business had revenue of $956.00 million during the quarter, compared to the consensus estimate of $926.50 million. During the same quarter in the prior year, the firm earned $0.78 EPS. The business’s revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts forecast that Ashland Global will post 3.58 EPS for the current fiscal year.

In other Ashland Global news, VP Keith C. Silverman sold 2,286 shares of the stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $84.71, for a total transaction of $193,647.06. Following the completion of the transaction, the vice president now owns 4,183 shares of the company’s stock, valued at approximately $354,341.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.14% of the stock is owned by corporate insiders.

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About Ashland Global

Ashland Global Holdings Inc provides specialty chemical solutions worldwide. Its Specialty Ingredients segment provides products, technologies, and resources for solving formulation and product-performance challenges. It offers solutions using natural, synthetic, and semisynthetic polymers derived from plant and seed extract, cellulose ethers, vinyl pyrrolidones, and acrylic polymers, as well as polyester and polyurethane-based adhesives.

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Earnings History and Estimates for Ashland Global (NYSE:ASH)

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