Ashland Global (NYSE:ASH) released its earnings results on Monday. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.01), Bloomberg Earnings reports. The business had revenue of $842.00 million during the quarter, compared to analysts’ expectations of $842.05 million. During the same quarter in the prior year, the business earned $1.16 earnings per share. Ashland Global updated its Q2 guidance to $0.80-0.90 EPS and its FY18 guidance to $2.90-3.10 EPS.
Shares of Ashland Global (NYSE:ASH) traded down $0.04 during trading hours on Monday, hitting $72.39. The stock had a trading volume of 1,522,992 shares, compared to its average volume of 809,415. Ashland Global has a one year low of $57.79 and a one year high of $76.40. The firm has a market cap of $4,510.00, a price-to-earnings ratio of -42.83, a PEG ratio of 2.12 and a beta of 1.11. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.97 and a quick ratio of 1.31.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Wednesday, February 28th. Ashland Global’s payout ratio is presently -53.25%.
A number of analysts have issued reports on ASH shares. Zacks Investment Research raised Ashland Global from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Tuesday, October 24th. Credit Suisse Group raised their target price on Ashland Global from $65.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, November 8th. UBS Group lifted their price objective on Ashland Global from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Deutsche Bank lifted their price objective on Ashland Global from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Finally, SunTrust Banks lifted their price objective on Ashland Global to $83.00 and gave the stock a “buy” rating in a report on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $82.57.
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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