Wall Street brokerages predict that Ashland Global Holdings Inc (NYSE:ASH) will announce sales of $684.58 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Ashland Global’s earnings. The lowest sales estimate is $668.90 million and the highest is $692.00 million. Ashland Global posted sales of $974.00 million during the same quarter last year, which suggests a negative year-over-year growth rate of 29.7%. The company is expected to report its next quarterly earnings report on Tuesday, May 7th.
On average, analysts expect that Ashland Global will report full year sales of $2.62 billion for the current financial year, with estimates ranging from $2.51 billion to $2.67 billion. For the next financial year, analysts forecast that the company will report sales of $2.75 billion, with estimates ranging from $2.72 billion to $2.83 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Ashland Global.
Ashland Global (NYSE:ASH) last released its quarterly earnings data on Tuesday, February 5th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.03. Ashland Global had a return on equity of 6.17% and a net margin of 2.01%. The company had revenue of $576.00 million during the quarter, compared to the consensus estimate of $585.78 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The firm’s revenue was down .9% compared to the same quarter last year.
In other Ashland Global news, insider Osama M. Musa sold 2,156 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $78.87, for a total transaction of $170,043.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.14% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of ASH. Creative Planning acquired a new position in shares of Ashland Global during the 3rd quarter valued at $206,000. Arizona State Retirement System lifted its holdings in shares of Ashland Global by 2.3% during the 3rd quarter. Arizona State Retirement System now owns 44,326 shares of the basic materials company’s stock valued at $3,717,000 after acquiring an additional 1,001 shares in the last quarter. Wells Fargo & Company MN increased its stake in Ashland Global by 80.5% during the 3rd quarter. Wells Fargo & Company MN now owns 203,372 shares of the basic materials company’s stock worth $17,055,000 after buying an additional 90,720 shares during the period. Commerce Bank purchased a new stake in Ashland Global during the 3rd quarter worth $209,000. Finally, Shikiar Asset Management Inc. purchased a new stake in Ashland Global during the 3rd quarter worth $7,650,000. Hedge funds and other institutional investors own 92.46% of the company’s stock.
ASH stock traded down $0.47 during trading on Friday, hitting $78.30. The company had a trading volume of 583,304 shares, compared to its average volume of 736,539. Ashland Global has a one year low of $64.81 and a one year high of $86.63. The stock has a market capitalization of $4.93 billion, a PE ratio of 21.87, a PEG ratio of 2.48 and a beta of 1.31. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.20 and a quick ratio of 1.51.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Thursday, February 28th. Ashland Global’s payout ratio is 27.93%.
Ashland Global Company Profile
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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