Ashland Global (NYSE:ASH) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Ashland Global (NYSE:ASHGet 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.

Several large investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC raised its holdings in shares of Ashland Global by 5.3% during the fourth quarter. Parametric Portfolio Associates LLC now owns 220,691 shares of the basic materials company’s stock worth $23,760,000 after acquiring an additional 11,042 shares during the period. Morgan Stanley raised its holdings in shares of Ashland Global by 16.9% during the second quarter. Morgan Stanley now owns 215,775 shares of the basic materials company’s stock worth $18,880,000 after acquiring an additional 31,248 shares during the period. Legal & General Group Plc raised its holdings in shares of Ashland Global by 2.0% during the fourth quarter. Legal & General Group Plc now owns 136,432 shares of the basic materials company’s stock worth $14,688,000 after acquiring an additional 2,613 shares during the period. Amalgamated Bank raised its holdings in shares of Ashland Global by 0.5% during the fourth quarter. Amalgamated Bank now owns 40,196 shares of the basic materials company’s stock worth $4,328,000 after acquiring an additional 217 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Ashland Global by 2.9% during the fourth quarter. Deutsche Bank AG now owns 34,602 shares of the basic materials company’s stock worth $3,726,000 after acquiring an additional 990 shares during the period. Institutional investors and hedge funds own 91.88% of the company’s stock.

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.

Featured Stories

Earnings History for Ashland Global (NYSE:ASH)

Receive News & Ratings for Ashland Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ashland Global and related companies with MarketBeat.com's FREE daily email newsletter.