Q3 2024 Earnings Forecast for Ashland Inc. (NYSE:ASH) Issued By Seaport Res Ptn

Ashland Inc. (NYSE:ASH) – Seaport Res Ptn cut their Q3 2024 earnings per share (EPS) estimates for Ashland in a research note issued to investors on Monday, May 6th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will earn $1.54 per share for the quarter, down from their prior estimate of $1.59. The consensus estimate for Ashland’s current full-year earnings is $4.47 per share. Seaport Res Ptn also issued estimates for Ashland’s FY2024 earnings at $4.83 EPS, Q2 2025 earnings at $1.65 EPS and Q3 2025 earnings at $1.73 EPS.

Several other analysts have also recently commented on the stock. BMO Capital Markets boosted their price target on shares of Ashland from $97.00 to $105.00 and gave the stock a “market perform” rating in a research note on Tuesday. StockNews.com upgraded Ashland from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Jefferies Financial Group upgraded shares of Ashland from a “hold” rating to a “buy” rating and raised their price target for the company from $100.00 to $126.00 in a report on Thursday, March 14th. JPMorgan Chase & Co. increased their price objective on shares of Ashland from $88.00 to $90.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. Finally, Wolfe Research began coverage on shares of Ashland in a research note on Friday, March 1st. They set an “outperform” rating and a $108.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Ashland has an average rating of “Moderate Buy” and an average price target of $106.44.

Ashland Price Performance

NYSE:ASH opened at $97.57 on Wednesday. The stock has a market cap of $4.89 billion, a PE ratio of 25.88 and a beta of 0.92. The company has a quick ratio of 1.94, a current ratio of 3.15 and a debt-to-equity ratio of 0.42. Ashland has a 52 week low of $70.82 and a 52 week high of $99.55. The business’s 50-day simple moving average is $95.87 and its two-hundred day simple moving average is $87.36.

Ashland (NYSE:ASH) last released its earnings results on Wednesday, May 1st. The basic materials company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.13. The company had revenue of $575.00 million for the quarter, compared to the consensus estimate of $574.64 million. Ashland had a return on equity of 5.57% and a net margin of 9.09%. Ashland’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.43 earnings per share.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in shares of Ashland by 122.4% in the first quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 153 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of Ashland in the 4th quarter valued at approximately $28,000. Hexagon Capital Partners LLC increased its holdings in shares of Ashland by 143.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 378 shares of the basic materials company’s stock worth $32,000 after buying an additional 223 shares during the last quarter. Covestor Ltd raised its position in shares of Ashland by 338.0% during the 3rd quarter. Covestor Ltd now owns 403 shares of the basic materials company’s stock valued at $33,000 after buying an additional 311 shares during the period. Finally, CWM LLC raised its position in shares of Ashland by 163.7% during the 4th quarter. CWM LLC now owns 559 shares of the basic materials company’s stock valued at $47,000 after buying an additional 347 shares during the period. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Ashland Company Profile

Ashland Inc provides additives and specialty ingredients in the North and Latin America, Europe, Asia Pacific, and internationally. It operates through Life Sciences, Personal Care, Specialty Additives, and Intermediates 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.