Q1 2017 EPS Estimates for Ashland Inc. Cut by Analyst (ASH)
Ashland Inc. (NYSE:ASH) – Seaport Global Securities lowered their Q1 2017 earnings per share (EPS) estimates for shares of Ashland in a research report issued on Monday. Seaport Global Securities analyst M. Harrison now anticipates that the brokerage will post earnings per share of $1.36 for the quarter, down from their previous forecast of $1.39. Seaport Global Securities also issued estimates for Ashland’s Q2 2017 earnings at $1.81 EPS, Q3 2017 earnings at $2.13 EPS, Q4 2017 earnings at $1.93 EPS and FY2017 earnings at $7.24 EPS.
Several other research analysts have also recently weighed in on the company. Zacks Investment Research cut Ashland from a “hold” rating to a “sell” rating in a research report on Friday, October 7th. Jefferies Group restated a “buy” rating on shares of Ashland in a research report on Tuesday, September 13th. Finally, Credit Suisse Group AG cut Ashland from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $122.00 to $119.00 in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Ashland has a consensus rating of “Buy” and a consensus price target of $125.00.
Ashland (NYSE:ASH) traded up 0.25% during mid-day trading on Tuesday, reaching $113.83. The company had a trading volume of 200,613 shares. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 37.98 and a beta of 1.11. The stock has a 50 day moving average of $117.52 and a 200 day moving average of $115.18. Ashland has a 52 week low of $88.30 and a 52 week high of $125.00.
Ashland (NYSE:ASH) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.95 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.04 by $0.09. Ashland had a net margin of 3.86% and a return on equity of 15.90%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company posted $1.91 EPS.
Hedge funds have recently modified their holdings of the company. Creative Planning raised its stake in shares of Ashland by 49.0% in the third quarter. Creative Planning now owns 1,486 shares of the company’s stock worth $172,000 after buying an additional 489 shares in the last quarter. British Columbia Investment Management Corp raised its stake in shares of Ashland by 26.7% in the third quarter. British Columbia Investment Management Corp now owns 16,964 shares of the company’s stock worth $1,967,000 after buying an additional 3,580 shares in the last quarter. Cullinan Associates Inc. purchased a new stake in shares of Ashland during the third quarter worth about $879,000. Mason Street Advisors LLC purchased a new stake in shares of Ashland during the second quarter worth about $3,248,000. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Ashland by 2.5% in the second quarter. Public Employees Retirement System of Ohio now owns 22,679 shares of the company’s stock worth $2,603,000 after buying an additional 559 shares in the last quarter. 86.87% of the stock is currently owned by hedge funds and other institutional investors.
Ashland 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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