Ashland Global Holdings Inc. (NYSE:ASH – Get Rating) – Research analysts at Seaport Res Ptn dropped their Q3 2022 earnings per share estimates for Ashland Global in a report issued on Wednesday, April 20th. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will post earnings per share of $1.31 for the quarter, down from their prior estimate of $1.56. Seaport Res Ptn also issued estimates for Ashland Global’s FY2022 earnings at $5.26 EPS and FY2023 earnings at $5.93 EPS.
Ashland Global (NYSE:ASH – Get Rating) last issued its earnings results on Tuesday, February 1st. The basic materials company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. The company had revenue of $512.00 million for the quarter, compared to analysts’ expectations of $512.44 million. Ashland Global had a net margin of 9.07% and a return on equity of 8.92%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS.
Shares of NYSE:ASH opened at $106.83 on Friday. The stock has a market cap of $6.08 billion, a PE ratio of 30.53 and a beta of 1.28. The company’s fifty day moving average is $95.82 and its 200 day moving average is $98.72. Ashland Global has a 52 week low of $81.93 and a 52 week high of $111.05. The company has a quick ratio of 1.33, a current ratio of 1.91 and a debt-to-equity ratio of 0.57.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Ashland Global by 1.7% during the third quarter. BlackRock Inc. now owns 4,631,159 shares of the basic materials company’s stock valued at $412,729,000 after purchasing an additional 79,149 shares during the last quarter. Franklin Resources Inc. increased its holdings in Ashland Global by 9.5% during the third quarter. Franklin Resources Inc. now owns 3,798,348 shares of the basic materials company’s stock valued at $338,509,000 after buying an additional 330,946 shares during the last quarter. Naya Capital Management UK Ltd. increased its holdings in Ashland Global by 12.2% during the third quarter. Naya Capital Management UK Ltd. now owns 2,468,135 shares of the basic materials company’s stock valued at $219,960,000 after buying an additional 267,424 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Ashland Global by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,071,330 shares of the basic materials company’s stock valued at $222,995,000 after buying an additional 10,737 shares during the last quarter. Finally, State Street Corp increased its holdings in Ashland Global by 1.7% during the fourth quarter. State Street Corp now owns 1,775,929 shares of the basic materials company’s stock valued at $191,197,000 after buying an additional 28,967 shares during the last quarter. 91.88% of the stock is owned by hedge funds and other institutional investors.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Shareholders of record on Tuesday, March 1st were issued a $0.30 dividend. The ex-dividend date was Monday, February 28th. This represents a $1.20 annualized dividend and a yield of 1.12%. Ashland Global’s dividend payout ratio (DPR) is presently 34.29%.
About Ashland Global (Get Rating)
Ashland Global Holdings Inc provides additives and specialty ingredients worldwide. It operates through Life Sciences; Personal Care & Household; Specialty Additives; and Intermediates and Solvents segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.
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