Analysts Set Expectations for Ashland Inc.’s Q1 2024 Earnings (NYSE:ASH)

Ashland Inc. (NYSE:ASH – Get Rating) – Investment analysts at Zacks Research increased their Q1 2024 earnings per share estimates for Ashland in a research report issued to clients and investors on Tuesday, May 16th. Zacks Research analyst A. Barman now forecasts that the basic materials company will earn $1.13 per share for the quarter, up from their prior forecast of $1.12. The consensus estimate for Ashland’s current full-year earnings is $6.01 per share. Zacks Research also issued estimates for Ashland’s Q2 2024 earnings at $1.55 EPS, Q2 2025 earnings at $1.67 EPS and FY2025 earnings at $6.61 EPS.

A number of other research firms have also issued reports on ASH. BMO Capital Markets dropped their price target on Ashland from $135.00 to $109.00 in a research report on Thursday, May 4th. JPMorgan Chase & Co. lowered Ashland from a “neutral” rating to an “underweight” rating and increased their target price for the company from $104.00 to $105.00 in a report on Thursday, February 2nd. Stifel Nicolaus decreased their target price on shares of Ashland from $145.00 to $142.00 in a research note on Thursday, May 4th. Wells Fargo & Company reduced their price objective on shares of Ashland from $110.00 to $100.00 in a research report on Thursday, May 4th. Finally, Mizuho reduced their price target on shares of Ashland from $139.00 to $129.00 in a research report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ashland presently has a consensus rating of “Hold” and an average price target of $121.25.

Ashland Price Performance

Shares of Ashland stock opened at $90.39 on Friday. The company has a quick ratio of 1.91, a current ratio of 3.46 and a debt-to-equity ratio of 0.41. Ashland has a twelve month low of $86.64 and a twelve month high of $114.36. The business has a 50-day moving average price of $97.75 and a 200 day moving average price of $103.90. The firm has a market cap of $4.91 billion, a PE ratio of 22.10 and a beta of 1.00.

Ashland (NYSE:ASH – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The basic materials company reported $1.43 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.09). The business had revenue of $603.00 million for the quarter, compared to analysts’ expectations of $627.61 million. Ashland had a net margin of 9.32% and a return on equity of 9.66%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.50 EPS.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Ashland by 9.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 3,668 shares of the basic materials company’s stock valued at $361,000 after purchasing an additional 326 shares during the period. American Century Companies Inc. lifted its stake in Ashland by 17.4% in the 1st quarter. American Century Companies Inc. now owns 6,917 shares of the basic materials company’s stock worth $681,000 after purchasing an additional 1,025 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Ashland by 4.2% during the 1st quarter. HighTower Advisors LLC now owns 5,523 shares of the basic materials company’s stock valued at $543,000 after buying an additional 221 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Ashland by 3.2% during the 1st quarter. Citigroup Inc. now owns 8,142 shares of the basic materials company’s stock valued at $801,000 after purchasing an additional 249 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Ashland by 25.0% during the 1st quarter. MetLife Investment Management LLC now owns 34,207 shares of the basic materials company’s stock valued at $3,366,000 after purchasing an additional 6,835 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Ashland Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be given a $0.385 dividend. This represents a $1.54 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, May 31st. This is a boost from Ashland’s previous quarterly dividend of $0.34. Ashland’s dividend payout ratio (DPR) is presently 32.76%.

Ashland Company Profile

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Ashland, Inc engages in the provision of architectural coatings, construction, energy, food and beverage, nutraceuticals, personal care, and pharmaceutical products. It operates through the following segments: Life Sciences, Personal Care, Special Additives, and Intermediates. The company was founded in 1924 and is headquartered in Wilmington, DE.