$668.46 Million in Sales Expected for Ashland Global Holdings Inc (NYSE:ASH) This Quarter
Wall Street brokerages forecast that Ashland Global Holdings Inc (NYSE:ASH) will report sales of $668.46 million for the current quarter, according to Zacks. Four analysts have provided estimates for Ashland Global’s earnings, with estimates ranging from $658.04 million to $675.00 million. Ashland Global reported sales of $971.00 million during the same quarter last year, which indicates a negative year-over-year growth rate of 31.2%. The firm is expected to report its next quarterly earnings results on Tuesday, July 30th.
According to Zacks, analysts expect that Ashland Global will report full-year sales of $2.58 billion for the current year, with estimates ranging from $2.53 billion to $2.60 billion. For the next financial year, analysts anticipate that the company will post sales of $2.67 billion, with estimates ranging from $2.64 billion to $2.71 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Ashland Global.
Ashland Global (NYSE:ASH) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The firm had revenue of $667.00 million during the quarter, compared to analysts’ expectations of $680.96 million. Ashland Global had a return on equity of 5.79% and a net margin of 2.30%. The company’s quarterly revenue was down 31.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.06 EPS.
In related news, insider William J. Heitman sold 6,300 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $79.46, for a total transaction of $500,598.00. Following the sale, the insider now owns 6,303 shares in the company, valued at approximately $500,836.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Peter Ganz sold 1,562 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $74.32, for a total value of $116,087.84. Following the sale, the insider now owns 40,150 shares in the company, valued at approximately $2,983,948. The disclosure for this sale can be found here. Insiders have sold a total of 15,065 shares of company stock valued at $1,189,252 in the last three months. 1.14% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its position in shares of Ashland Global by 3.8% in the 1st quarter. BlackRock Inc. now owns 5,811,293 shares of the basic materials company’s stock valued at $454,037,000 after buying an additional 213,525 shares during the last quarter. Vanguard Group Inc grew its position in shares of Ashland Global by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 5,730,773 shares of the basic materials company’s stock valued at $480,582,000 after buying an additional 152,555 shares during the last quarter. Neuberger Berman Group LLC grew its position in shares of Ashland Global by 38.7% in the 1st quarter. Neuberger Berman Group LLC now owns 2,400,155 shares of the basic materials company’s stock valued at $187,524,000 after buying an additional 669,069 shares during the last quarter. Wedge Capital Management L L P NC grew its position in shares of Ashland Global by 13.4% in the 1st quarter. Wedge Capital Management L L P NC now owns 1,508,861 shares of the basic materials company’s stock valued at $117,887,000 after buying an additional 177,909 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Ashland Global by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,319,418 shares of the basic materials company’s stock valued at $103,093,000 after buying an additional 27,977 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.
NYSE ASH traded down $1.84 during midday trading on Friday, hitting $78.25. The company had a trading volume of 779,546 shares, compared to its average volume of 1,034,495. The stock has a market capitalization of $5.02 billion, a PE ratio of 21.86, a P/E/G ratio of 2.69 and a beta of 1.27. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.27 and a quick ratio of 1.62. Ashland Global has a twelve month low of $64.93 and a twelve month high of $86.63.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, May 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.41%. This is a boost from Ashland Global’s previous quarterly dividend of $0.25. Ashland Global’s payout ratio is 30.73%.
Ashland Global Company Profile
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.
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