Q3 2022 Earnings Estimate for Ashland Global Holdings Inc. (NYSE:ASH) Issued By Jefferies Financial Group

Ashland Global Holdings Inc. (NYSE:ASHGet Rating) – Equities research analysts at Jefferies Financial Group dropped their Q3 2022 EPS estimates for Ashland Global in a research report issued on Wednesday, April 27th. Jefferies Financial Group analyst L. Alexander now expects that the basic materials company will post earnings per share of $1.29 for the quarter, down from their previous forecast of $1.32. Jefferies Financial Group also issued estimates for Ashland Global’s Q4 2022 earnings at $1.03 EPS, FY2023 earnings at $5.90 EPS, FY2024 earnings at $7.20 EPS, FY2025 earnings at $7.15 EPS and FY2026 earnings at $7.65 EPS.

ASH has been the topic of several other research reports. Wells Fargo & Company boosted their target price 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. StockNews.com started coverage on shares of Ashland Global in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Ashland Global from $120.00 to $122.00 in a research report on Thursday. TheStreet upgraded shares of Ashland Global from a “c” rating to a “b-” rating in a research report on Tuesday, April 26th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Ashland Global from $109.00 to $107.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 19th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $121.25.

Shares of NYSE:ASH opened at $104.97 on Monday. Ashland Global has a 52 week low of $81.93 and a 52 week high of $111.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.50 and a quick ratio of 1.33. The firm has a fifty day moving average price of $97.10. The firm has a market cap of $5.98 billion, a P/E ratio of 6.35 and a beta of 1.28.

Ashland Global (NYSE:ASHGet Rating) last issued its earnings results on Tuesday, April 26th. The basic materials company reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.14. Ashland Global had a net margin of 40.83% and a return on equity of 9.45%. During the same period in the prior year, the firm posted $1.05 EPS.

A number of institutional investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System lifted its position in Ashland Global by 0.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the basic materials company’s stock valued at $1,561,000 after purchasing an additional 100 shares during the period. Arrow Financial Corp increased its stake in shares of Ashland Global by 13.8% in the 4th quarter. Arrow Financial Corp now owns 941 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 114 shares during the last quarter. LPL Financial LLC increased its stake in shares of Ashland Global by 1.3% in the 4th quarter. LPL Financial LLC now owns 9,342 shares of the basic materials company’s stock valued at $1,006,000 after acquiring an additional 118 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of Ashland Global by 16.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 872 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 122 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its stake in shares of Ashland Global by 0.6% in the 4th quarter. Eagle Asset Management Inc. now owns 22,434 shares of the basic materials company’s stock valued at $2,386,000 after acquiring an additional 131 shares during the last quarter. Institutional investors 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.

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

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