Ashland Global Holdings Inc. (ASH) To Go Ex-Dividend on August 30th
Ashland Global Holdings Inc. (NYSE:ASH) announced a quarterly dividend on Thursday, July 20th, Wall Street Journal reports. Investors of record on Friday, September 1st will be given a dividend of 0.225 per share by the basic materials company on Friday, September 15th. This represents a $0.90 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, August 30th.
Ashland Global Holdings has increased its dividend payment by an average of 7.8% annually over the last three years and has increased its dividend every year for the last 7 years. Ashland Global Holdings has a payout ratio of 20.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ashland Global Holdings to earn $3.26 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 27.6%.
Shares of Ashland Global Holdings (NYSE ASH) opened at 61.26 on Tuesday. The company’s 50-day moving average is $63.86 and its 200 day moving average is $62.59. Ashland Global Holdings has a 52-week low of $59.80 and a 52-week high of $128.19. The company’s market cap is $3.82 billion.
Ashland Global Holdings (NYSE:ASH) last released its earnings results on Tuesday, August 1st. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.13. Ashland Global Holdings had a positive return on equity of 10.62% and a negative net margin of 4.71%. The firm had revenue of $870 million during the quarter, compared to analysts’ expectations of $842.78 million. During the same quarter last year, the business posted $1.95 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. On average, analysts anticipate that Ashland Global Holdings will post $4.42 EPS for the current year.
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Several equities analysts have weighed in on ASH shares. Credit Suisse Group restated a “neutral” rating and set a $65.00 price target (up previously from $59.69) on shares of Ashland Global Holdings in a report 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 target for the company in a report on Wednesday, July 5th. BidaskClub cut Ashland Global Holdings from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. ValuEngine cut Ashland Global Holdings from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, J P Morgan Chase & Co raised their price target on Ashland Global Holdings from $61.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday, May 31st. Two equities research 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 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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