Equities research analysts predict that Ashland Global Holdings Inc. (NYSE:ASH) will announce $683.24 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Ashland Global’s earnings. The highest sales estimate is $692.88 million and the lowest is $677.20 million. Ashland Global reported sales of $609.00 million during the same quarter last year, which would suggest a positive year over year growth rate of 12.2%. The firm is scheduled to report its next earnings results on Tuesday, November 9th.
On average, analysts expect that Ashland Global will report full year sales of $2.44 billion for the current fiscal year, with estimates ranging from $2.28 billion to $2.48 billion. For the next year, analysts anticipate that the firm will post sales of $2.53 billion, with estimates ranging from $2.26 billion to $2.70 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Ashland Global.
Ashland Global (NYSE:ASH) last posted its quarterly earnings results on Monday, July 26th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.07). The company had revenue of $637.00 million during the quarter, compared to analyst estimates of $635.39 million. Ashland Global had a net margin of 7.60% and a return on equity of 7.72%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 earnings per share.
In other news, CFO J Kevin Willis sold 1,104 shares of the company’s stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $94.30, for a total transaction of $104,107.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.08% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ASH. Dimensional Fund Advisors LP grew its position in Ashland Global by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,693,538 shares of the basic materials company’s stock valued at $134,128,000 after buying an additional 85,606 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Ashland Global by 7,390.0% during the 1st quarter. Meeder Asset Management Inc. now owns 749 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 739 shares in the last quarter. Signaturefd LLC boosted its position in shares of Ashland Global by 11,904.8% during the 1st quarter. Signaturefd LLC now owns 2,521 shares of the basic materials company’s stock valued at $224,000 after purchasing an additional 2,500 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of Ashland Global by 17.2% during the 1st quarter. Raymond James Trust N.A. now owns 4,366 shares of the basic materials company’s stock valued at $387,000 after purchasing an additional 640 shares in the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of Ashland Global by 1.5% during the 1st quarter. State of Michigan Retirement System now owns 20,172 shares of the basic materials company’s stock valued at $1,791,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 93.56% of the company’s stock.
ASH traded down $0.91 during trading on Tuesday, hitting $92.02. The company had a trading volume of 252,026 shares, compared to its average volume of 452,379. The company has a market cap of $5.59 billion, a PE ratio of 31.41 and a beta of 1.28. The business has a 50-day moving average of $87.25 and a 200-day moving average of $88.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.05 and a quick ratio of 1.19. Ashland Global has a 1-year low of $66.95 and a 1-year high of $95.96.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, August 31st. This represents a $1.20 annualized dividend and a dividend yield of 1.30%. Ashland Global’s dividend payout ratio is currently 42.86%.
About Ashland Global
Ashland Global Holdings, Inc is a global specialty chemicals company. The company engages in the manufacture and distribution of adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care, and pharmaceutical. It operates through the following segments: Consumer Specialties; Industrial Specialties; and Other.
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