Ashland Global (NYSE:ASH) updated its third quarter 2019 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.76-0.78 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.86. The company issued revenue guidance of $641-641 million, compared to the consensus revenue estimate of $668.43 million.Ashland Global also updated its Q3 guidance to $0.76-0.78 EPS.
Several research firms recently weighed in on ASH. JPMorgan Chase & Co. set a $24.00 price target on shares of Urovant Sciences and gave the company a buy rating in a research report on Friday, June 14th. Zacks Investment Research downgraded shares of EXACT Sciences from a hold rating to a sell rating in a report on Tuesday, July 2nd. ValuEngine raised shares of Ultrapar Participacoes from a strong sell rating to a sell rating in a report on Tuesday, June 4th. TheStreet downgraded shares of Worthington Industries from a b- rating to a c+ rating in a report on Monday, June 10th. Finally, Credit Suisse Group set a $92.00 price objective on shares of Ashland Global and gave the company a buy rating in a report on Friday, July 12th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $91.13.
NYSE ASH opened at $76.11 on Friday. The stock has a market capitalization of $4.73 billion, a P/E ratio of 24.59, a PEG ratio of 2.67 and a beta of 1.25. Ashland Global has a 52 week low of $64.93 and a 52 week high of $86.63. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.62 and a current ratio of 2.27. The firm’s 50-day simple moving average is $77.91.
Ashland Global (NYSE:ASH) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.01. Ashland Global had a net margin of 2.30% and a return on equity of 5.79%. The business had revenue of $667.00 million for the quarter, compared to the consensus estimate of $680.96 million. During the same period in the prior year, the firm earned $1.06 earnings per share. The company’s revenue was down 31.5% compared to the same quarter last year. As a group, equities research analysts expect that Ashland Global will post 2.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Friday, August 30th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Thursday, August 29th. Ashland Global’s payout ratio is 30.73%.
In other news, insider Peter Ganz sold 1,562 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $74.32, for a total value of $116,087.84. Following the sale, the insider now directly owns 40,150 shares of the company’s stock, valued at $2,983,948. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.14% of the company’s stock.
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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