Ashland Global Holdings Inc. Expected to Post Q1 2018 Earnings of $0.36 Per Share (ASH)
Ashland Global Holdings Inc. (NYSE:ASH) – Research analysts at Jefferies Group issued their Q1 2018 earnings per share (EPS) estimates for Ashland Global Holdings in a report issued on Tuesday. Jefferies Group analyst L. Alexander anticipates that the basic materials company will post earnings per share of $0.36 for the quarter. Jefferies Group has a “Buy” rating and a $77.00 price objective on the stock. Jefferies Group also issued estimates for Ashland Global Holdings’ FY2018 earnings at $3.30 EPS.
Ashland Global Holdings (NYSE:ASH) last announced its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.69 by $0.09. The firm had revenue of $880.00 million for the quarter, compared to analysts’ expectations of $869.62 million. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.52 EPS.
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Several other brokerages have also commented on ASH. Zacks Investment Research raised Ashland Global Holdings from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Tuesday, October 24th. BidaskClub downgraded Ashland Global Holdings from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Credit Suisse Group raised their price target on Ashland Global Holdings from $65.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday. UBS AG raised their price target on Ashland Global Holdings from $74.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Finally, TheStreet downgraded Ashland Global Holdings from a “b” rating to a “c+” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $81.29.
Ashland Global Holdings (NYSE:ASH) opened at $66.01 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.35 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $4,119.16, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 1.93 and a beta of 1.07. Ashland Global Holdings has a 52-week low of $53.41 and a 52-week high of $69.33.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning increased its holdings in Ashland Global Holdings by 7.1% in the 2nd quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock worth $101,000 after buying an additional 101 shares in the last quarter. Commonwealth Equity Services Inc bought a new stake in shares of Ashland Global Holdings during the 3rd quarter valued at about $234,000. Sciencast Management LP bought a new stake in shares of Ashland Global Holdings during the 2nd quarter valued at about $271,000. Trexquant Investment LP bought a new stake in shares of Ashland Global Holdings during the 2nd quarter valued at about $290,000. Finally, World Asset Management Inc grew its stake in shares of Ashland Global Holdings by 2.4% during the 2nd quarter. World Asset Management Inc now owns 4,423 shares of the basic materials company’s stock valued at $292,000 after purchasing an additional 104 shares during the period. Institutional investors own 94.06% of the company’s stock.
Ashland Global Holdings Company Profile
Ashland Inc is engaged in specialty chemicals, and through Valvoline, is a consumer-branded lubricant supplier. The Company operates in three segments: Ashland Specialty Ingredients (Specialty Ingredients), Ashland Performance Materials (Performance Materials) and Valvoline. Its Specialty Ingredients segment is engaged in providing cellulose ethers, vinyl pyrrolidones and biofunctionals, and consists of two divisions: Consumer Specialties and Industrial Specialties.
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