Brokers Issue Forecasts for Ashland Global Holdings Inc.’s Q1 2018 Earnings (ASH)
Ashland Global Holdings Inc. (NYSE:ASH) – Stock analysts at Jefferies Group boosted their Q1 2018 earnings estimates for shares of Ashland Global Holdings in a report released on Monday. Jefferies Group analyst L. Alexander now forecasts that the basic materials company will post earnings of $0.46 per share for the quarter, up from their previous forecast of $0.36. Jefferies Group currently has a “Buy” rating and a $77.00 target price on the stock. Jefferies Group also issued estimates for Ashland Global Holdings’ Q2 2018 earnings at $0.94 EPS, Q3 2018 earnings at $1.10 EPS, Q4 2018 earnings at $0.87 EPS, FY2018 earnings at $3.35 EPS and FY2019 earnings at $3.85 EPS.
Ashland Global Holdings (NYSE:ASH) last issued its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.09. The firm had revenue of $880.00 million for the quarter, compared to analysts’ expectations of $869.62 million. During the same quarter in the previous year, the firm posted $1.52 earnings per share. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year.
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A number of other research firms have also weighed in on ASH. Zacks Investment Research raised Ashland Global Holdings from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Tuesday, October 24th. BidaskClub lowered Ashland Global Holdings from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Deutsche Bank AG lowered their price objective 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. TheStreet lowered Ashland Global Holdings from a “b” rating to a “c+” rating in a research note on Tuesday, August 1st. Finally, SunTrust Banks, Inc. reissued a “buy” rating and set a $74.00 price objective on shares of Ashland Global Holdings in a research note on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $81.29.
Shares of Ashland Global Holdings (ASH) opened at $67.10 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.31 and a current ratio of 1.97. Ashland Global Holdings has a 12-month low of $59.80 and a 12-month high of $128.19. The company has a market capitalization of $4,190.00, a P/E ratio of 14.73, a P/E/G ratio of 1.92 and a beta of 1.08.
A number of institutional investors and hedge funds have recently bought and sold shares of ASH. Wellington Management Group LLP lifted its stake in Ashland Global Holdings by 197.1% during the 1st quarter. Wellington Management Group LLP now owns 5,467 shares of the basic materials company’s stock worth $677,000 after acquiring an additional 3,627 shares in the last quarter. Fox Run Management L.L.C. lifted its stake in Ashland Global Holdings by 45.9% during the 2nd quarter. Fox Run Management L.L.C. now owns 5,400 shares of the basic materials company’s stock worth $356,000 after acquiring an additional 1,700 shares in the last quarter. Capstone Asset Management Co. lifted its stake in Ashland Global Holdings by 3.4% during the 2nd quarter. Capstone Asset Management Co. now owns 6,379 shares of the basic materials company’s stock worth $420,000 after acquiring an additional 208 shares in the last quarter. Creative Planning lifted its stake in Ashland Global Holdings by 7.1% during the 2nd quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 101 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in Ashland Global Holdings by 4.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 22,852 shares of the basic materials company’s stock worth $1,506,000 after acquiring an additional 992 shares in the last quarter. 94.23% of the stock is currently owned by hedge funds and other 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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