Seaport Global Securities Weighs in on Ashland Inc.’s Q2 2017 Earnings (ASH)
Ashland Inc. (NYSE:ASH) – Analysts at Seaport Global Securities lowered their Q2 2017 earnings per share (EPS) estimates for shares of Ashland in a note issued to investors on Wednesday. Seaport Global Securities analyst M. Harrison now expects that the brokerage will post earnings of $1.77 per share for the quarter, down from their prior estimate of $1.81. Seaport Global Securities also issued estimates for Ashland’s Q3 2017 earnings at $2.03 EPS, FY2017 earnings at $6.86 EPS and FY2018 earnings at $8.21 EPS.
Ashland (NYSE:ASH) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $1.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by $0.09. Ashland had a positive return on equity of 15.23% and a negative net margin of 0.59%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the company earned $1.62 EPS.
Several other equities research analysts have also recently issued reports on ASH. Jefferies Group restated a “buy” rating and set a $140.00 price objective 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 company 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $123.33.
Ashland (NYSE:ASH) opened at 109.32 on Thursday. The stock has a 50 day moving average price of $112.68 and a 200-day moving average price of $114.99. The stock has a market cap of $6.79 billion, a P/E ratio of 36.48 and a beta of 0.98. Ashland has a 12-month low of $88.30 and a 12-month high of $125.00.
Several hedge funds and other institutional investors have recently modified their holdings of ASH. DAVENPORT & Co LLC bought a new position in shares of Ashland during the second quarter worth approximately $208,000. Northstar Group Inc. bought a new position in shares of Ashland during the second quarter worth approximately $200,000. CenturyLink Investment Management Co bought a new position in shares of Ashland during the second quarter worth approximately $1,547,000. Patten & Patten Inc. TN boosted its position in shares of Ashland by 1.1% in the second quarter. Patten & Patten Inc. TN now owns 47,392 shares of the company’s stock worth $5,439,000 after buying an additional 537 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Ashland by 122.5% in the second quarter. BNP Paribas Arbitrage SA now owns 32,372 shares of the company’s stock worth $3,715,000 after buying an additional 17,826 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.
In other Ashland news, CFO J Kevin Willis sold 1,555 shares of the business’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $106.84, for a total transaction of $166,136.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.27% of the company’s stock.
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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