Jefferies Financial Group Weighs in on Ashland Global Holdings Inc.’s Q2 2022 Earnings (NYSE:ASH)

Ashland Global Holdings Inc. (NYSE:ASHGet Rating) – Analysts at Jefferies Financial Group upped their Q2 2022 earnings per share (EPS) estimates for Ashland Global in a research report issued on Wednesday, April 13th. Jefferies Financial Group analyst L. Alexander now forecasts that the basic materials company will earn $1.50 per share for the quarter, up from their previous estimate of $1.09. Jefferies Financial Group also issued estimates for Ashland Global’s Q3 2022 earnings at $1.32 EPS, Q4 2022 earnings at $1.01 EPS and FY2022 earnings at $4.70 EPS.

Ashland Global (NYSE:ASHGet Rating) last announced its quarterly earnings data on Tuesday, February 1st. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The company had revenue of $512.00 million for the quarter, compared to the consensus estimate of $512.44 million. Ashland Global had a return on equity of 8.92% and a net margin of 9.07%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 EPS.

ASH has been the topic of a number of other reports. Zacks Investment Research raised Ashland Global from a “sell” rating to a “hold” rating and set a $111.00 price target on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on Ashland Global from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday. TheStreet lowered Ashland Global from a “b-” rating to a “c” rating in a report on Friday, March 18th. JPMorgan Chase & Co. decreased their price objective on Ashland Global from $109.00 to $107.00 and set a “neutral” rating for the company in a report on Wednesday, January 19th. Finally, Mizuho boosted their price objective on Ashland Global from $127.00 to $129.00 and gave the stock a “buy” rating in a report on Friday, March 25th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $119.88.

ASH stock opened at $106.22 on Friday. The stock’s 50 day simple moving average is $94.89 and its 200 day simple moving average is $98.19. Ashland Global has a fifty-two week low of $81.93 and a fifty-two week high of $110.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.33 and a current ratio of 1.91. The company has a market cap of $6.05 billion, a P/E ratio of 30.35 and a beta of 1.28.

Several hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its holdings in shares of Ashland Global by 0.7% in the fourth quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the basic materials company’s stock valued at $1,561,000 after acquiring an additional 100 shares in the last quarter. Arrow Financial Corp grew its holdings in Ashland Global by 13.8% during the fourth quarter. Arrow Financial Corp now owns 941 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 114 shares during the period. LPL Financial LLC grew its holdings in Ashland Global by 1.3% during the fourth quarter. LPL Financial LLC now owns 9,342 shares of the basic materials company’s stock valued at $1,006,000 after purchasing an additional 118 shares during the period. Meeder Asset Management Inc. grew its holdings in Ashland Global by 16.3% during the third quarter. Meeder Asset Management Inc. now owns 872 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 122 shares during the period. Finally, Eagle Asset Management Inc. grew its holdings in Ashland Global by 0.6% during the fourth quarter. Eagle Asset Management Inc. now owns 22,434 shares of the basic materials company’s stock valued at $2,386,000 after purchasing an additional 131 shares during the period. 91.88% of the stock is owned by institutional investors.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, February 28th. Ashland Global’s dividend payout ratio is presently 34.29%.

Ashland Global Company Profile (Get Rating)

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: Life Sciences, Personal Care & Household, Specialty Additives, and Intermediates and Solvents.

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Earnings History and Estimates for Ashland Global (NYSE:ASH)

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