Zacks: Analysts Anticipate Ashland Global Holdings Inc. (NYSE:ASH) Will Post Quarterly Sales of $591.68 Million

Wall Street brokerages forecast that Ashland Global Holdings Inc. (NYSE:ASHGet Rating) will report sales of $591.68 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Ashland Global’s earnings, with estimates ranging from $573.00 million to $605.39 million. Ashland Global posted sales of $637.00 million in the same quarter last year, which suggests a negative year over year growth rate of 7.1%. The business is scheduled to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Ashland Global will report full year sales of $2.33 billion for the current fiscal year. For the next year, analysts anticipate that the business will report sales of $2.47 billion, with estimates ranging from $2.40 billion to $2.54 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Ashland Global.

Ashland Global (NYSE:ASHGet Rating) last announced its quarterly earnings data on Tuesday, April 26th. The basic materials company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.14. Ashland Global had a return on equity of 9.45% and a net margin of 40.83%. The company had revenue of $604.00 million during the quarter, compared to the consensus estimate of $603.89 million. During the same quarter in the prior year, the firm earned $1.05 EPS.

A number of research firms have issued reports on ASH. Stifel Nicolaus upped their price target on shares of Ashland Global from $130.00 to $136.00 in a report on Thursday, February 3rd. Wells Fargo & Company raised their price target on shares of Ashland Global from $105.00 to $113.00 and gave the stock an “equal weight” rating in a research note on Monday, April 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Ashland Global from $120.00 to $122.00 in a report on Thursday, April 28th. Mizuho raised their price target on shares of Ashland Global from $129.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, April 19th. Finally, Zacks Investment Research raised shares of Ashland Global from a “sell” rating to a “hold” rating and set a $111.00 price objective on the stock in a research note on Thursday, April 14th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Ashland Global presently has a consensus rating of “Buy” and an average target price of $121.25.

A number of institutional investors and hedge funds have recently made changes to their positions in ASH. Franklin Resources Inc. lifted its holdings in shares of Ashland Global by 9.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,798,348 shares of the basic materials company’s stock worth $338,509,000 after acquiring an additional 330,946 shares during the period. Naya Capital Management UK Ltd. increased its position in shares of 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 worth $219,960,000 after buying an additional 267,424 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Ashland Global by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,133,706 shares of the basic materials company’s stock worth $209,981,000 after buying an additional 62,376 shares during the period. State Street Corp boosted its stake 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 worth $191,197,000 after acquiring an additional 28,967 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Ashland Global by 3.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,536,423 shares of the basic materials company’s stock worth $151,200,000 after acquiring an additional 48,444 shares in the last quarter. Institutional investors and hedge funds own 96.75% of the company’s stock.

NYSE ASH opened at $101.71 on Thursday. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $5.55 billion, a PE ratio of 6.15 and a beta of 1.14. Ashland Global has a 1-year low of $81.93 and a 1-year high of $111.05. The firm’s fifty day simple moving average is $100.81 and its 200-day simple moving average is $100.05.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be paid a dividend of $0.335 per share. This is a positive change from Ashland Global’s previous quarterly dividend of $0.30. This represents a $1.34 annualized dividend and a dividend yield of 1.32%. Ashland Global’s payout ratio is currently 7.26%.

Ashland Global Company Profile (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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