Equities analysts predict that Ashland Global Holdings Inc (NYSE:ASH) will announce $670.06 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Ashland Global’s earnings. The highest sales estimate is $675.00 million and the lowest is $658.04 million. Ashland Global reported sales of $971.00 million in the same quarter last year, which indicates a negative year-over-year growth rate of 31%. The company is expected to report its next earnings results on Tuesday, July 30th.
On average, analysts expect that Ashland Global will report full-year sales of $2.58 billion for the current financial year, with estimates ranging from $2.53 billion to $2.60 billion. For the next financial year, analysts anticipate that the company will report sales of $2.69 billion, with estimates ranging from $2.64 billion to $2.72 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Ashland Global.
Ashland Global (NYSE:ASH) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Ashland Global had a return on equity of 5.79% and a net margin of 2.30%. The business had revenue of $667.00 million for the quarter, compared to analysts’ expectations of $680.96 million. During the same quarter in the prior year, the business earned $1.06 EPS. The firm’s revenue for the quarter was down 31.5% on a year-over-year basis.
ASH opened at $73.75 on Thursday. Ashland Global has a 1-year low of $64.93 and a 1-year high of $86.63. The company has a current ratio of 2.27, a quick ratio of 1.62 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $4.65 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 2.47 and a beta of 1.30.
In other Ashland Global news, insider William J. Heitman sold 7,203 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $79.49, for a total value of $572,566.47. Following the transaction, the insider now directly owns 6,303 shares of the company’s stock, valued at approximately $501,025.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William J. Heitman sold 6,300 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $79.46, for a total value of $500,598.00. Following the completion of the transaction, the insider now directly owns 6,303 shares in the company, valued at $500,836.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,221 shares of company stock worth $1,359,296. Insiders own 1.14% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in Ashland Global by 3.8% in the 1st quarter. BlackRock Inc. now owns 5,811,293 shares of the basic materials company’s stock valued at $454,037,000 after buying an additional 213,525 shares in the last quarter. Vanguard Group Inc grew its holdings in Ashland Global by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 5,730,773 shares of the basic materials company’s stock valued at $480,582,000 after buying an additional 152,555 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in Ashland Global by 38.7% in the 1st quarter. Neuberger Berman Group LLC now owns 2,400,155 shares of the basic materials company’s stock valued at $187,524,000 after buying an additional 669,069 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of Ashland Global by 13.4% during the 1st quarter. Wedge Capital Management L L P NC now owns 1,508,861 shares of the basic materials company’s stock worth $117,887,000 after purchasing an additional 177,909 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Ashland Global by 2.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,319,418 shares of the basic materials company’s stock worth $103,093,000 after purchasing an additional 27,977 shares in the last quarter. 92.98% of the stock is currently owned by hedge funds and other institutional investors.
About Ashland Global
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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