Ashland Global Holdings Inc (ASH) Expected to Post Quarterly Sales of $929.15 Million

Equities analysts expect Ashland Global Holdings Inc (NYSE:ASH) to report $929.15 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Ashland Global’s earnings, with the highest sales estimate coming in at $933.75 million and the lowest estimate coming in at $926.00 million. Ashland Global posted sales of $880.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.6%. The business is scheduled to report its next quarterly earnings results after the market closes on Tuesday, November 6th.

According to Zacks, analysts expect that Ashland Global will report full-year sales of $3.74 billion for the current year, with estimates ranging from $3.69 billion to $3.89 billion. For the next year, analysts forecast that the business will post sales of $3.70 billion, with estimates ranging from $3.21 billion to $3.91 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Ashland Global.

Ashland Global (NYSE:ASH) last released its quarterly earnings results on Tuesday, July 31st. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.10. The company had revenue of $971.00 million for the quarter, compared to the consensus estimate of $1 billion. Ashland Global had a net margin of 1.28% and a return on equity of 6.36%. Ashland Global’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 earnings per share.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Ashland Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 9th. UBS Group increased their target price on shares of Ashland Global from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, October 2nd. Credit Suisse Group set a $95.00 target price on shares of Ashland Global and gave the company a “buy” rating in a research note on Friday, September 21st. JPMorgan Chase & Co. increased their target price on shares of Ashland Global from $81.00 to $87.00 and gave the company a “neutral” rating in a research note on Friday, August 24th. Finally, KeyCorp reissued a “buy” rating and issued a $93.00 target price on shares of Ashland Global in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Ashland Global currently has a consensus rating of “Buy” and an average price target of $90.00.

Shares of ASH opened at $74.85 on Friday. Ashland Global has a twelve month low of $64.13 and a twelve month high of $86.63. The firm has a market capitalization of $5.24 billion, a PE ratio of 31.09, a PEG ratio of 2.34 and a beta of 1.19. The company has a current ratio of 2.25, a quick ratio of 1.37 and a debt-to-equity ratio of 0.72.

In other news, VP Keith C. Silverman sold 2,286 shares of the stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $84.71, for a total value of $193,647.06. Following the sale, the vice president now owns 4,183 shares of the company’s stock, valued at $354,341.93. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.14% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ASH. Sei Investments Co. increased its stake in Ashland Global by 146.5% in the 1st quarter. Sei Investments Co. now owns 8,034 shares of the basic materials company’s stock worth $561,000 after buying an additional 4,775 shares during the period. Principal Financial Group Inc. increased its stake in Ashland Global by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 271,009 shares of the basic materials company’s stock worth $18,914,000 after buying an additional 6,573 shares during the period. Northwestern Mutual Investment Management Company LLC increased its stake in Ashland Global by 56.4% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 12,733 shares of the basic materials company’s stock worth $889,000 after buying an additional 4,594 shares during the period. UBS Group AG increased its stake in Ashland Global by 26.9% in the 1st quarter. UBS Group AG now owns 207,086 shares of the basic materials company’s stock worth $14,452,000 after buying an additional 43,856 shares during the period. Finally, Millennium Management LLC increased its stake in Ashland Global by 216.2% in the 1st quarter. Millennium Management LLC now owns 496,472 shares of the basic materials company’s stock worth $34,649,000 after buying an additional 339,482 shares during the period. 93.16% of the stock is currently owned by institutional investors.

About Ashland Global

Ashland Global Holdings Inc provides specialty chemical solutions worldwide. Its Specialty Ingredients segment provides products, technologies, and resources for solving formulation and product-performance challenges. It offers solutions using natural, synthetic, and semisynthetic polymers derived from plant and seed extract, cellulose ethers, vinyl pyrrolidones, and acrylic polymers, as well as polyester and polyurethane-based adhesives.

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Earnings History and Estimates for Ashland Global (NYSE:ASH)

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