Wall Street analysts expect Ashland Global Holdings Inc. (NYSE:ASH) to post $860.18 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Ashland Global’s earnings, with the highest sales estimate coming in at $891.43 million and the lowest estimate coming in at $838.00 million. Ashland Global posted sales of $1.19 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 27.7%. The company is scheduled to report its next earnings report on Thursday, January 25th.
On average, analysts expect that Ashland Global will report full year sales of $860.18 million for the current year, with estimates ranging from $3.41 billion to $3.73 billion. For the next year, analysts forecast that the firm will post sales of $3.76 billion per share, with estimates ranging from $3.57 billion to $3.82 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Ashland Global.
Ashland Global (NYSE:ASH) last posted its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.09. The company had revenue of $880.00 million during the quarter, compared to analyst estimates of $869.62 million. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.52 earnings per share.
In other news, insider Peter Ganz sold 3,379 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $70.63, for a total transaction of $238,658.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO J Kevin Willis sold 916 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $70.61, for a total transaction of $64,678.76. The disclosure for this sale can be found here. Insiders have sold 16,342 shares of company stock worth $1,148,839 in the last ninety days. Insiders own 1.14% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Evercore Trust Company N.A. boosted its position in shares of Ashland Global by 113.3% during the 2nd quarter. Evercore Trust Company N.A. now owns 2,178,433 shares of the basic materials company’s stock worth $143,580,000 after purchasing an additional 1,157,131 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Ashland Global by 11.8% during the 3rd quarter. Wedge Capital Management L L P NC now owns 1,748,825 shares of the basic materials company’s stock worth $114,356,000 after purchasing an additional 185,176 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Ashland Global by 2.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,493,021 shares of the basic materials company’s stock worth $98,405,000 after purchasing an additional 32,649 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of Ashland Global by 30.7% during the 3rd quarter. Schroder Investment Management Group now owns 1,463,395 shares of the basic materials company’s stock worth $95,999,000 after purchasing an additional 344,160 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its position in Ashland Global by 1.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,354,447 shares of the basic materials company’s stock valued at $88,567,000 after acquiring an additional 17,839 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors.
Shares of Ashland Global (NYSE:ASH) opened at $70.06 on Friday. The firm has a market capitalization of $4,419.83, a price-to-earnings ratio of 15.85, a P/E/G ratio of 2.08 and a beta of 1.10. Ashland Global has a 1-year low of $53.79 and a 1-year high of $74.75. The company has a quick ratio of 1.31, a current ratio of 1.97 and a debt-to-equity ratio of 0.76.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.90 dividend on an annualized basis and a yield of 1.28%. Ashland Global’s dividend payout ratio (DPR) is currently -9,000,000.00%.
Ashland Global Company Profile
Ashland Inc is engaged in specialty chemicals, and through Valvoline, is a consumer-branded lubricant supplier. The Company operates in three segments: Ashland Specialty Ingredients (Specialty Ingredients), Ashland Performance Materials (Performance Materials) and Valvoline. Its Specialty Ingredients segment is engaged in providing cellulose ethers, vinyl pyrrolidones and biofunctionals, and consists of two divisions: Consumer Specialties and Industrial Specialties.
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