Analysts expect Ashland Global Holdings Inc. (NYSE:ASH) to announce $683.24 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Ashland Global’s earnings, with estimates ranging from $677.20 million to $692.88 million. Ashland Global reported sales of $609.00 million during the same quarter last year, which indicates a positive year over year growth rate of 12.2%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, November 9th.
According to Zacks, analysts expect that Ashland Global will report full-year sales of $2.43 billion for the current financial year, with estimates ranging from $2.28 billion to $2.48 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.51 billion, with estimates ranging from $2.26 billion to $2.70 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Ashland Global.
Ashland Global (NYSE:ASH) last released its quarterly earnings results on Monday, July 26th. The basic materials company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.07). Ashland Global had a return on equity of 7.72% and a net margin of 7.60%. The firm had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $635.39 million. During the same quarter in the prior year, the business earned $0.84 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis.
ASH opened at $92.75 on Friday. Ashland Global has a 52 week low of $68.17 and a 52 week high of $95.96. The business has a fifty day simple moving average of $87.88 and a 200-day simple moving average of $88.96. The firm has a market cap of $5.63 billion, a P/E ratio of 31.66 and a beta of 1.28. The company has a quick ratio of 1.19, a current ratio of 2.05 and a debt-to-equity ratio of 0.49.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Tuesday, August 31st. Ashland Global’s dividend payout ratio (DPR) is 42.86%.
In other Ashland Global news, CFO J Kevin Willis sold 1,104 shares of Ashland Global stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $94.30, for a total transaction of $104,107.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.08% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in shares of Ashland Global during the second quarter worth about $28,000. Dark Forest Capital Management LP acquired a new position in Ashland Global in the 2nd quarter valued at about $28,000. Concord Wealth Partners acquired a new position in Ashland Global in the 1st quarter valued at about $29,000. Jacobi Capital Management LLC acquired a new position in Ashland Global in the 2nd quarter valued at about $46,000. Finally, Huntington National Bank increased its position in Ashland Global by 232.9% in the 2nd quarter. Huntington National Bank now owns 546 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 382 shares during the period. Institutional investors and hedge funds own 93.56% of the company’s stock.
Ashland Global Company Profile
Ashland Global Holdings, Inc is a global specialty chemicals company. The company engages in the manufacture and distribution of adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care, and pharmaceutical. It operates through the following segments: Consumer Specialties; Industrial Specialties; and Other.
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