FY2017 EPS Estimates for Ashland Global Holdings Inc. (ASH) Lowered by Analyst
Ashland Global Holdings Inc. (NYSE:ASH) – Research analysts at Jefferies Group dropped their FY2017 earnings per share estimates for shares of Ashland Global Holdings in a research note issued on Wednesday. Jefferies Group analyst L. Alexander now forecasts that the basic materials company will post earnings of $4.15 per share for the year, down from their previous estimate of $4.20. Jefferies Group has a “Buy” rating and a $74.00 price target on the stock. Jefferies Group also issued estimates for Ashland Global Holdings’ Q4 2017 earnings at $0.45 EPS.
Several other research firms have also issued reports on ASH. Credit Suisse Group restated a “neutral” rating and issued a $65.00 price objective (up previously from $59.69) on shares of Ashland Global Holdings in a research note on Wednesday, May 17th. Zacks Investment Research upgraded Ashland Global Holdings from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Wednesday, July 5th. BidaskClub lowered Ashland Global Holdings from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. ValuEngine lowered Ashland Global Holdings from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, J P Morgan Chase & Co upped their price objective on Ashland Global Holdings from $61.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday, May 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $88.33.
Ashland Global Holdings (ASH) opened at 61.47 on Monday. The stock’s market cap is $3.84 billion. Ashland Global Holdings has a 12-month low of $59.80 and a 12-month high of $128.19. The firm has a 50-day moving average price of $63.86 and a 200-day moving average price of $62.59.
Ashland Global Holdings (NYSE:ASH) last issued its earnings results on Tuesday, August 1st. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.13. The business had revenue of $870 million during the quarter, compared to analysts’ expectations of $842.78 million. Ashland Global Holdings had a positive return on equity of 10.62% and a negative net margin of 4.71%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.95 EPS.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Wednesday, August 30th. Ashland Global Holdings’s payout ratio is -25.42%.
Several institutional investors have recently bought and sold shares of the stock. Creative Planning increased its position in Ashland Global Holdings by 7.1% in the second quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock valued at $101,000 after buying an additional 101 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in Ashland Global Holdings by 4.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,658 shares of the basic materials company’s stock valued at $192,000 after buying an additional 66 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Ashland Global Holdings by 13.3% in the first quarter. Daiwa Securities Group Inc. now owns 1,700 shares of the basic materials company’s stock valued at $210,000 after buying an additional 200 shares during the last quarter. Advisor Partners LLC increased its position in Ashland Global Holdings by 1.1% in the first quarter. Advisor Partners LLC now owns 1,969 shares of the basic materials company’s stock valued at $244,000 after buying an additional 22 shares during the last quarter. Finally, Sciencast Management LP purchased a new position in Ashland Global Holdings during the second quarter valued at approximately $271,000. 92.50% of the stock is currently owned by institutional investors.
Ashland Global Holdings 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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