Ashland Global Holdings Inc (NYSE:ASH) – Equities researchers at SunTrust Banks reduced their FY2021 earnings per share (EPS) estimates for shares of Ashland Global in a note issued to investors on Wednesday, August 28th, according to Zacks Investment Research. SunTrust Banks analyst J. Sheehan now expects that the basic materials company will earn $4.37 per share for the year, down from their prior estimate of $4.48. SunTrust Banks currently has a “Buy” rating and a $87.00 target price on the stock.
ASH has been the topic of a number of other reports. JPMorgan Chase & Co. cut shares of Ashland Global from an “overweight” rating to a “neutral” rating and set a $82.00 price target on the stock. in a research report on Friday, June 14th. They noted that the move was a valuation call. ValuEngine raised shares of Ashland Global from a “hold” rating to a “buy” rating in a research report on Tuesday, June 4th. Zacks Investment Research lowered shares of Ashland Global from a “hold” rating to a “strong sell” rating in a research note on Monday, July 22nd. Buckingham Research lifted their price objective on shares of Ashland Global from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, TheStreet lowered shares of Ashland Global from a “b” rating to a “c” rating in a research note on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $89.00.
Shares of ASH stock opened at $73.97 on Friday. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 2.67 and a beta of 1.27. The company has a quick ratio of 1.43, a current ratio of 2.02 and a debt-to-equity ratio of 0.71. Ashland Global has a fifty-two week low of $64.93 and a fifty-two week high of $86.53. The firm’s 50 day moving average price is $74.82 and its two-hundred day moving average price is $76.91.
Ashland Global (NYSE:ASH) last released its earnings results on Tuesday, July 30th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The business had revenue of $641.00 million for the quarter, compared to analysts’ expectations of $640.29 million. Ashland Global had a net margin of 3.63% and a return on equity of 5.15%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.275 per share. The ex-dividend date is Thursday, August 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.49%. Ashland Global’s dividend payout ratio is currently 30.73%.
Several institutional investors and hedge funds have recently bought and sold shares of ASH. Mcmillion Capital Management Inc. bought a new stake in Ashland Global during the second quarter valued at $28,000. Advisory Services Network LLC increased its stake in Ashland Global by 213.4% during the second quarter. Advisory Services Network LLC now owns 351 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 239 shares during the last quarter. Executive Wealth Management LLC increased its stake in Ashland Global by 738.2% during the second quarter. Executive Wealth Management LLC now owns 461 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 406 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in shares of Ashland Global during the second quarter valued at $40,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Ashland Global during the second quarter valued at $48,000. Institutional investors own 97.60% of the company’s stock.
About Ashland Global
Ashland Global Holdings Inc provides specialty chemical solutions worldwide. The company’s Specialty Ingredients segment offers products, technologies, and resources for solving formulation and product-performance challenges. It provides solutions using natural, synthetic, and semisynthetic polymers derived from cellulose ethers, vinyl pyrrolidones, acrylic polymers, polyester and polyurethane-based adhesives, and plant and seed extracts.