Ashland (ASH) Set to Announce Quarterly Earnings on Wednesday

Ashland (NYSE:ASH) will issue its quarterly earnings data after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $1.33 per share for the quarter. Ashland has set its FY 2024 guidance at EPS and its Q4 2024 guidance at EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Ashland (NYSE:ASH) last released its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. Ashland had a return on equity of 5.98% and a net margin of 7.01%. The business had revenue of $544.00 million for the quarter, compared to analyst estimates of $577.08 million. During the same period in the previous year, the company posted $1.23 EPS. The company’s revenue was down .4% compared to the same quarter last year. On average, analysts expect Ashland to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Ashland Trading Up 1.2 %

NYSE ASH opened at $86.61 on Wednesday. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 1.11 and a beta of 0.88. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.84 and a current ratio of 2.98. Ashland has a one year low of $70.82 and a one year high of $102.50. The company’s 50 day moving average price is $86.61 and its 200 day moving average price is $92.10.

Ashland Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Friday, August 30th. Ashland’s payout ratio is currently 54.92%.

Analyst Ratings Changes

Several analysts recently issued reports on ASH shares. BMO Capital Markets lowered their price target on Ashland from $105.00 to $92.00 and set a “market perform” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. raised shares of Ashland from an “underweight” rating to a “neutral” rating and reduced their target price for the stock from $90.00 to $89.00 in a research report on Thursday, August 8th. UBS Group lowered their price target on shares of Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Wells Fargo & Company cut their price objective on shares of Ashland from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, StockNews.com downgraded Ashland from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $103.50.

Ashland Company Profile

Ashland Inc provides additives and specialty ingredients in the North and Latin America, Europe, Asia Pacific, and internationally. It operates through Life Sciences, Personal Care, Specialty Additives, and Intermediates segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.