FY2020 EPS Estimates for Ashland Global Holdings Inc. (ASH) Boosted by Jefferies Group
Ashland Global Holdings Inc. (NYSE:ASH) – Research analysts at Jefferies Group upped their FY2020 EPS estimates for shares of Ashland Global Holdings in a report issued on Monday. Jefferies Group analyst L. Alexander now forecasts that the basic materials company will post earnings of $4.45 per share for the year, up from their previous estimate of $4.00. Jefferies Group has a “Buy” rating and a $77.00 price target on the stock. Jefferies Group also issued estimates for Ashland Global Holdings’ FY2021 earnings at $5.10 EPS.
ASH has been the topic of several other reports. Deutsche Bank AG lifted their price objective on Ashland Global Holdings from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. SunTrust Banks, Inc. restated a “buy” rating and set a $74.00 price objective on shares of Ashland Global Holdings in a report on Friday, November 10th. TheStreet downgraded Ashland Global Holdings from a “b” rating to a “c+” rating in a report on Tuesday, August 1st. BidaskClub downgraded Ashland Global Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research downgraded Ashland Global Holdings from a “buy” rating to a “hold” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $81.29.
Ashland Global Holdings (NYSE:ASH) traded up $0.49 during mid-day trading on Wednesday, reaching $67.16. The company’s stock had a trading volume of 910,895 shares, compared to its average volume of 903,772. The company has a quick ratio of 1.31, a current ratio of 1.97 and a debt-to-equity ratio of 0.76. Ashland Global Holdings has a 52 week low of $53.41 and a 52 week high of $69.33. The stock has a market cap of $4,187.20, a P/E ratio of 14.98, a PEG ratio of 1.95 and a beta of 1.07.
Ashland Global Holdings (NYSE:ASH) last posted its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.09. The business had revenue of $880.00 million for the quarter, compared to analysts’ expectations of $869.62 million. During the same quarter in the prior year, the firm earned $1.52 earnings per share. Ashland Global Holdings’s revenue for the quarter was up 16.7% compared to the same quarter last year.
Large investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its position in Ashland Global Holdings by 7.1% during the 2nd quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 101 shares during the period. Commonwealth Equity Services Inc acquired a new position in Ashland Global Holdings during the 3rd quarter valued at approximately $234,000. Sciencast Management LP acquired a new position in Ashland Global Holdings during the 2nd quarter valued at approximately $271,000. Trexquant Investment LP acquired a new position in Ashland Global Holdings during the 2nd quarter valued at approximately $290,000. Finally, World Asset Management Inc boosted its position in 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 and hedge funds own 94.23% 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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