FY2018 Earnings Forecast for Ashland Global Holdings Inc. (ASH) Issued By KeyCorp
Ashland Global Holdings Inc. (NYSE:ASH) – KeyCorp lowered their FY2018 earnings per share (EPS) estimates for Ashland Global in a research report issued on Tuesday. KeyCorp analyst M. Sison now expects that the basic materials company will post earnings per share of $3.00 for the year, down from their prior forecast of $3.30. KeyCorp also issued estimates for Ashland Global’s Q4 2018 earnings at $0.78 EPS.
Several other brokerages also recently weighed in on ASH. Zacks Investment Research upgraded shares of Ashland Global 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. Jefferies Group restated a “buy” rating on shares of Ashland Global in a research report on Tuesday, January 30th. Credit Suisse Group boosted their price objective on shares of Ashland Global from $65.00 to $69.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 8th. Seaport Global Securities reiterated a “buy” rating and issued a $81.00 price target on shares of Ashland Global in a research report on Wednesday. Finally, SunTrust Banks upped their price target on shares of Ashland Global to $83.00 and gave the company a “buy” rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Ashland Global has an average rating of “Hold” and an average price target of $83.00.
Ashland Global (NYSE:ASH) last issued its quarterly earnings data on Monday, January 29th. The basic materials company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). The company had revenue of $842.00 million for the quarter, compared to analysts’ expectations of $842.05 million. Ashland Global had a positive return on equity of 7.14% and a negative net margin of 0.08%. During the same quarter in the prior year, the firm posted $1.16 EPS.
Institutional investors and hedge funds have recently made changes to their positions in the business. Boussard & Gavaudan Investment Management LLP acquired a new position in Ashland Global in the 3rd quarter valued at $6,850,000. Dimensional Fund Advisors LP increased its stake in Ashland Global by 4.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,157,066 shares of the basic materials company’s stock valued at $75,662,000 after buying an additional 51,277 shares during the period. Sciencast Management LP acquired a new position in Ashland Global in the 2nd quarter valued at $271,000. Legal & General Group Plc increased its stake in Ashland Global by 0.6% in the 3rd quarter. Legal & General Group Plc now owns 288,270 shares of the basic materials company’s stock valued at $18,851,000 after buying an additional 1,844 shares during the period. Finally, First Financial Bank Trust Division acquired a new position in Ashland Global in the 4th quarter valued at $2,350,000. 91.80% of the stock is currently owned by institutional investors.
In other Ashland Global news, insider William J. Heitman sold 4,495 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $70.31, for a total value of $316,043.45. Following the transaction, the insider now directly owns 15,152 shares of the company’s stock, valued at approximately $1,065,337.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO J Kevin Willis sold 1,352 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $66.23, for a total transaction of $89,542.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,077 shares of company stock valued at $2,949,366. 1.14% of the stock is owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be given a $0.225 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.90 annualized dividend and a yield of 1.22%. Ashland Global’s dividend payout ratio (DPR) is -118.42%.
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About Ashland Global
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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