Ashland Global (NYSE:ASH) updated its FY 2019 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $3.10-3.40 for the period, compared to the Thomson Reuters consensus estimate of $3.30. Ashland Global also updated its FY19 guidance to $3.10-3.40 EPS.
Several research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Ashland Global from a buy rating to a hold rating in a research note on Wednesday, December 5th. Credit Suisse Group restated a buy rating and set a $90.00 price target on shares of Ashland Global in a research note on Monday. Deutsche Bank increased their price target on shares of Ashland Global from $96.00 to $100.00 and gave the stock a buy rating in a research note on Friday, November 16th. TheStreet lowered shares of Ashland Global from a b rating to a c+ rating in a research note on Wednesday, November 7th. Finally, Buckingham Research assumed coverage on shares of Ashland Global in a research note on Monday, December 17th. They set a neutral rating on the stock. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $89.80.
Shares of ASH opened at $77.30 on Wednesday. Ashland Global has a 12 month low of $64.81 and a 12 month high of $86.63. The firm has a market cap of $4.78 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 2.37 and a beta of 1.30. The company has a current ratio of 1.59, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67.
Ashland Global (NYSE:ASH) last posted its quarterly earnings data on Tuesday, November 6th. The basic materials company reported $0.97 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.97. The business had revenue of $956.00 million during the quarter, compared to the consensus estimate of $926.50 million. Ashland Global had a net margin of 3.05% and a return on equity of 6.71%. Ashland Global’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 EPS. Equities research analysts forecast that Ashland Global will post 3.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, February 28th. Ashland Global’s dividend payout ratio is currently 27.93%.
In related news, VP Keith C. Silverman sold 322 shares of the company’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $81.57, for a total transaction of $26,265.54. Following the completion of the sale, the vice president now directly owns 3,380 shares of the company’s stock, valued at approximately $275,706.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO J Kevin Willis sold 8,519 shares of the company’s stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $81.50, for a total transaction of $694,298.50. Following the sale, the chief financial officer now directly owns 3,168 shares of the company’s stock, valued at $258,192. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,067 shares of company stock valued at $1,224,405. 1.14% of the stock is owned by insiders.
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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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