Q1 2018 EPS Estimates for Ashland Global Holdings Inc. Reduced by Analyst (ASH)
Ashland Global Holdings Inc. (NYSE:ASH) – Investment analysts at Seaport Global Securities reduced their Q1 2018 earnings per share (EPS) estimates for Ashland Global Holdings in a report released on Thursday. Seaport Global Securities analyst M. Harrison now anticipates that the basic materials company will earn $0.60 per share for the quarter, down from their previous forecast of $0.62.
Ashland Global Holdings (NYSE:ASH) last issued its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.13. The company had revenue of $870 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $1.95 earnings per share. COPYRIGHT VIOLATION NOTICE: “Q1 2018 EPS Estimates for Ashland Global Holdings Inc. Reduced by Analyst (ASH)” was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another publication, it was stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/08/28/q1-2018-eps-estimates-for-ashland-global-holdings-inc-reduced-by-analyst-ash.html.
ASH has been the topic of several other research reports. Deutsche Bank AG decreased their price target on Ashland Global Holdings from $75.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, August 3rd. BidaskClub lowered Ashland Global Holdings from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Jefferies Group LLC reiterated a “buy” rating on shares of Ashland Global Holdings in a research note on Friday, June 23rd. ValuEngine lowered Ashland Global Holdings from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, TheStreet upgraded Ashland Global Holdings from a “c” rating to a “b+” rating in a research note on Friday, June 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $88.33.
Ashland Global Holdings (NYSE ASH) opened at 61.47 on Monday. Ashland Global Holdings has a one year low of $59.80 and a one year high of $128.19. The stock’s 50 day moving average price is $63.86 and its 200-day moving average price is $62.59. The firm’s market capitalization is $3.84 billion.
Several large investors have recently added to or reduced their stakes in ASH. BlackRock Inc. increased its stake in Ashland Global Holdings by 5,548.9% in the first quarter. BlackRock Inc. now owns 5,692,080 shares of the basic materials company’s stock valued at $704,736,000 after buying an additional 5,591,315 shares during the period. Vanguard Group Inc. increased its stake in Ashland Global Holdings by 4.5% in the first quarter. Vanguard Group Inc. now owns 5,271,030 shares of the basic materials company’s stock valued at $652,607,000 after buying an additional 228,240 shares during the period. Evercore Trust Company N.A. increased its stake in Ashland Global Holdings by 113.3% in the second quarter. Evercore Trust Company N.A. now owns 2,178,433 shares of the basic materials company’s stock valued at $143,580,000 after buying an additional 1,157,131 shares during the period. State Street Corp increased its stake in Ashland Global Holdings by 1.9% in the first quarter. State Street Corp now owns 2,104,720 shares of the basic materials company’s stock valued at $260,582,000 after buying an additional 40,172 shares during the period. Finally, Wedge Capital Management L L P NC increased its stake in Ashland Global Holdings by 52.2% in the second quarter. Wedge Capital Management L L P NC now owns 1,563,649 shares of the basic materials company’s stock valued at $103,060,000 after buying an additional 536,205 shares during the period. 92.50% of the stock is currently owned by institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Wednesday, August 30th. Ashland Global Holdings’s dividend payout ratio (DPR) is -25.42%.
About Ashland Global Holdings
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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