$684.58 Million in Sales Expected for Ashland Global Holdings Inc (ASH) This Quarter
Analysts forecast that Ashland Global Holdings Inc (NYSE:ASH) will post sales of $684.58 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Ashland Global’s earnings. The lowest sales estimate is $668.90 million and the highest is $692.00 million. Ashland Global posted sales of $974.00 million during the same quarter last year, which suggests a negative year-over-year growth rate of 29.7%. The business is scheduled to report its next earnings results on Tuesday, May 7th.
According to Zacks, analysts expect that Ashland Global will report full year sales of $2.62 billion for the current year, with estimates ranging from $2.51 billion to $2.67 billion. For the next year, analysts forecast that the firm will report sales of $2.75 billion, with estimates ranging from $2.72 billion to $2.83 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Ashland Global.
Ashland Global (NYSE:ASH) last released its earnings results on Tuesday, February 5th. The basic materials company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. Ashland Global had a return on equity of 6.17% and a net margin of 2.01%. The business had revenue of $576.00 million for the quarter, compared to the consensus estimate of $585.78 million. During the same period last year, the business earned $0.03 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year.
ASH stock traded down $1.19 during trading on Thursday, reaching $78.06. 597,400 shares of the stock were exchanged, compared to its average volume of 739,080. Ashland Global has a twelve month low of $64.81 and a twelve month high of $86.63. The company has a market cap of $4.96 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 2.49 and a beta of 1.30. The company has a quick ratio of 1.51, a current ratio of 2.20 and a debt-to-equity ratio of 0.69.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, February 28th. Ashland Global’s payout ratio is 27.93%.
In other Ashland Global news, CFO J Kevin Willis sold 2,046 shares of Ashland Global stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $80.34, for a total transaction of $164,375.64. Following the sale, the chief financial officer now directly owns 3,168 shares of the company’s stock, valued at $254,517.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.14% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its holdings in Ashland Global by 1,099.1% during the fourth quarter. Millennium Management LLC now owns 464,606 shares of the basic materials company’s stock valued at $32,968,000 after purchasing an additional 425,860 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in Ashland Global by 72.9% during the fourth quarter. Macquarie Group Ltd. now owns 6,053 shares of the basic materials company’s stock valued at $430,000 after purchasing an additional 2,553 shares in the last quarter. Voloridge Investment Management LLC boosted its holdings in Ashland Global by 149.5% during the fourth quarter. Voloridge Investment Management LLC now owns 27,259 shares of the basic materials company’s stock valued at $1,934,000 after purchasing an additional 16,334 shares in the last quarter. Cipher Capital LP acquired a new stake in Ashland Global during the fourth quarter valued at approximately $2,822,000. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in Ashland Global during the fourth quarter valued at approximately $1,064,000. 91.99% of the stock is currently owned by institutional investors.
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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