Ashland Inc. (ASH) Forecasted to Earn Q1 2017 Earnings of $0.95 Per Share
Ashland Inc. (NYSE:ASH) – KeyCorp issued their Q1 2017 earnings per share (EPS) estimates for shares of Ashland in a research note issued on Monday. KeyCorp analyst M. Sison anticipates that the brokerage will earn $0.95 per share for the quarter. KeyCorp also issued estimates for Ashland’s Q2 2017 earnings at $1.50 EPS, Q3 2017 earnings at $0.78 EPS, Q4 2017 earnings at $0.67 EPS and FY2017 earnings at $3.90 EPS.
Other equities analysts have also recently issued reports about the company. Jefferies Group restated a “buy” rating and set a $140.00 price target on shares of Ashland in a report on Wednesday, November 9th. TheStreet cut Ashland from a “buy” rating to a “hold” rating in a report on Tuesday, November 8th. Credit Suisse Group AG set a $119.00 target price on Ashland and gave the stock a “hold” rating in a report on Tuesday, November 8th. Finally, Zacks Investment Research cut Ashland from a “hold” rating to a “sell” rating in a report on Friday, October 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Ashland currently has an average rating of “Hold” and an average price target of $123.33.
Shares of Ashland (NYSE:ASH) traded up 0.56% during midday trading on Thursday, hitting $109.76. 279,066 shares of the company were exchanged. Ashland has a one year low of $88.30 and a one year high of $125.00. The company has a 50-day moving average of $112.91 and a 200 day moving average of $115.03. The company has a market capitalization of $6.82 billion, a P/E ratio of 36.62 and a beta of 0.98.
Ashland (NYSE:ASH) last announced its earnings results on Tuesday, November 8th. The company reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by $0.09. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.25 billion. Ashland had a positive return on equity of 15.23% and a negative net margin of 0.59%. During the same quarter last year, the business earned $1.62 EPS.
Several large investors have recently made changes to their positions in ASH. Geode Capital Management LLC raised its stake in shares of Ashland by 3.3% in the first quarter. Geode Capital Management LLC now owns 386,402 shares of the company’s stock valued at $42,463,000 after buying an additional 12,191 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Ashland by 3.4% in the first quarter. Envestnet Asset Management Inc. now owns 11,999 shares of the company’s stock valued at $1,319,000 after buying an additional 389 shares during the period. A.R.T. Advisors LLC purchased a new stake in shares of Ashland during the first quarter valued at $918,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Ashland by 3.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 57,577 shares of the company’s stock valued at $6,331,000 after buying an additional 1,894 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Ashland during the first quarter valued at $406,000. 86.71% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO J Kevin Willis sold 1,555 shares of the stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $106.84, for a total value of $166,136.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.27% of the stock is owned by corporate insiders.
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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