Ashland Global Holdings Inc (NYSE:ASH) – Research analysts at SunTrust Banks issued their Q1 2020 earnings per share (EPS) estimates for Ashland Global in a research report issued on Tuesday, November 19th. SunTrust Banks analyst J. Sheehan forecasts that the basic materials company will earn $0.26 per share for the quarter. SunTrust Banks currently has a “Buy” rating and a $87.00 target price on the stock. SunTrust Banks also issued estimates for Ashland Global’s Q2 2020 earnings at $0.88 EPS, Q3 2020 earnings at $0.92 EPS, Q4 2020 earnings at $1.01 EPS and FY2021 earnings at $3.95 EPS.
Other analysts also recently issued reports about the company. Deutsche Bank decreased their price target on Ashland Global from $88.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday. Zacks Investment Research downgraded Ashland Global from a “hold” rating to a “sell” rating in a report on Tuesday. Wells Fargo & Co assumed coverage on Ashland Global in a report on Tuesday, October 15th. They set an “outperform” rating and a $90.00 price target for the company. Monness Crespi & Hardt raised Ashland Global from a “neutral” rating to a “buy” rating and set a $88.00 price target for the company in a report on Monday, October 14th. Finally, ValuEngine raised Ashland Global from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Ashland Global currently has an average rating of “Buy” and a consensus price target of $85.22.
Ashland Global (NYSE:ASH) last released its earnings results on Monday, November 18th. The basic materials company reported $0.77 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.21). Ashland Global had a return on equity of 5.15% and a net margin of 3.63%. The company had revenue of $609.00 million for the quarter, compared to analyst estimates of $644.53 million. During the same period in the previous year, the firm earned $0.97 earnings per share. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, November 29th. Ashland Global’s payout ratio is currently 44.00%.
In other news, CFO J Kevin Willis sold 2,122 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $78.99, for a total value of $167,616.78. Following the completion of the sale, the chief financial officer now directly owns 2,266 shares of the company’s stock, valued at approximately $178,991.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William J. Heitman sold 509 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $78.99, for a total value of $40,205.91. Following the completion of the sale, the insider now directly owns 6,594 shares of the company’s stock, valued at $520,860.06. The disclosure for this sale can be found here. Insiders sold a total of 3,982 shares of company stock valued at $314,538 over the last three months. Company insiders own 1.14% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Eminence Capital LP purchased a new stake in Ashland Global in the second quarter valued at about $413,763,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Ashland Global during the second quarter valued at approximately $110,163,000. Nuveen Asset Management LLC acquired a new position in shares of Ashland Global during the second quarter valued at approximately $58,567,000. Invesco Ltd. increased its stake in shares of Ashland Global by 539.5% during the second quarter. Invesco Ltd. now owns 492,965 shares of the basic materials company’s stock valued at $39,423,000 after acquiring an additional 415,881 shares during the period. Finally, Great Lakes Advisors LLC acquired a new position in shares of Ashland Global during the third quarter valued at approximately $14,975,000. 95.38% of the stock is owned by institutional investors and hedge funds.
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.
Featured Article: G-20
Receive News & Ratings for Ashland Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ashland Global and related companies with MarketBeat.com's FREE daily email newsletter.