Ashland Global (NYSE:ASH – Get Rating) released its quarterly earnings results on Tuesday. The basic materials company reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.14, MarketWatch Earnings reports. Ashland Global had a net margin of 9.07% and a return on equity of 8.92%. During the same quarter in the previous year, the company earned $1.05 EPS. Ashland Global updated its Q2 2022 guidance to EPS and its FY 2022 guidance to EPS.
ASH traded up $4.56 during mid-day trading on Wednesday, hitting $105.88. The stock had a trading volume of 5,394 shares, compared to its average volume of 483,154. The business’s fifty day simple moving average is $96.42. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.91 and a quick ratio of 1.33. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 28.95 and a beta of 1.28. Ashland Global has a 1-year low of $81.93 and a 1-year high of $111.05.
A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Ashland Global from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, April 13th. JPMorgan Chase & Co. reduced their price objective on shares of Ashland Global from $109.00 to $107.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 19th. StockNews.com assumed coverage on shares of Ashland Global in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Mizuho raised their price objective on shares of Ashland Global from $129.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, April 19th. Finally, Wells Fargo & Company raised their price objective on shares of Ashland Global from $105.00 to $113.00 and gave the company an “equal weight” rating in a research note on Monday, April 18th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $121.00.
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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