Ashland Global Holdings Inc (NYSE:ASH) Expected to Announce Quarterly Sales of $641.83 Million

Equities analysts predict that Ashland Global Holdings Inc (NYSE:ASH) will report $641.83 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Ashland Global’s earnings. The highest sales estimate is $646.10 million and the lowest is $637.38 million. Ashland Global reported sales of $956.00 million during the same quarter last year, which would suggest a negative year over year growth rate of 32.9%. The business is expected to announce its next quarterly earnings results on Tuesday, November 5th.

On average, analysts expect that Ashland Global will report full year sales of $2.52 billion for the current year, with estimates ranging from $2.48 billion to $2.53 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.57 billion, with estimates ranging from $2.53 billion to $2.60 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Ashland Global.

Ashland Global (NYSE:ASH) last issued its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. Ashland Global had a net margin of 3.63% and a return on equity of 5.15%. The firm had revenue of $641.00 million for the quarter, compared to analyst estimates of $640.29 million. During the same quarter in the previous year, the business posted $0.77 EPS. The firm’s revenue was down 4.0% compared to the same quarter last year.

ASH has been the topic of a number of recent analyst reports. SunTrust Banks cut their price objective on shares of Ashland Global from $95.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. They noted that the move was a valuation call. ValuEngine lowered shares of Ashland Global from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Monness Crespi & Hardt upgraded shares of Ashland Global from a “neutral” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Monday, October 14th. Wells Fargo & Co initiated coverage on shares of Ashland Global in a report on Tuesday, October 15th. They issued an “outperform” rating and a $90.00 price objective on the stock. Finally, Credit Suisse Group set a $92.00 price objective on shares of Ashland Global and gave the stock a “buy” rating in a report on Friday, July 12th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $87.38.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Financial Bank Trust Division increased its stake in Ashland Global by 2.4% during the 2nd quarter. First Financial Bank Trust Division now owns 57,246 shares of the basic materials company’s stock worth $4,578,000 after buying an additional 1,352 shares in the last quarter. WINTON GROUP Ltd increased its stake in Ashland Global by 25.4% during the 2nd quarter. WINTON GROUP Ltd now owns 465,396 shares of the basic materials company’s stock worth $37,218,000 after buying an additional 94,373 shares in the last quarter. Douglass Winthrop Advisors LLC increased its stake in Ashland Global by 70.5% during the 2nd quarter. Douglass Winthrop Advisors LLC now owns 20,455 shares of the basic materials company’s stock worth $1,636,000 after buying an additional 8,455 shares in the last quarter. Wiley BROS. Aintree Capital LLC increased its stake in Ashland Global by 18.5% during the 2nd quarter. Wiley BROS. Aintree Capital LLC now owns 3,525 shares of the basic materials company’s stock worth $282,000 after buying an additional 550 shares in the last quarter. Finally, Leisure Capital Management increased its stake in Ashland Global by 6.3% during the 2nd quarter. Leisure Capital Management now owns 10,046 shares of the basic materials company’s stock worth $803,000 after buying an additional 599 shares in the last quarter. 95.89% of the stock is owned by institutional investors.

Shares of ASH stock opened at $76.35 on Wednesday. Ashland Global has a 12 month low of $64.93 and a 12 month high of $84.81. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.02 and a quick ratio of 1.43. The firm has a market capitalization of $4.63 billion, a P/E ratio of 21.33, a P/E/G ratio of 2.11 and a beta of 1.27. The company’s fifty day moving average price is $76.17 and its two-hundred day moving average price is $76.52.

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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Earnings History and Estimates for Ashland Global (NYSE:ASH)

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