Wall Street analysts expect Ashland Global Holdings Inc. (NYSE:ASH) to announce sales of $839.27 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Ashland Global Holdings’ earnings, with the lowest sales estimate coming in at $816.00 million and the highest estimate coming in at $861.70 million. Ashland Global Holdings reported sales of $1.29 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 34.9%. The company is expected to report its next quarterly earnings results after the market closes on Tuesday, August 1st.
On average, analysts expect that Ashland Global Holdings will report full-year sales of $839.27 million for the current financial year, with estimates ranging from $4.12 billion to $4.27 billion. For the next fiscal year, analysts anticipate that the company will report sales of $3.52 billion per share, with estimates ranging from $3.21 billion to $3.69 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Ashland Global Holdings.
Ashland Global Holdings (NYSE:ASH) last announced its earnings results on Tuesday, April 25th. The basic materials company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.10. Ashland Global Holdings had a positive return on equity of 13.53% and a negative net margin of 2.26%. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the business earned $1.83 EPS.
Several equities research analysts recently weighed in on the stock. BidaskClub downgraded shares of Ashland Global Holdings from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Zacks Investment Research raised shares of Ashland Global Holdings from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research report on Wednesday, July 5th. ValuEngine downgraded shares of Ashland Global Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating on shares of Ashland Global Holdings in a research report on Friday, June 23rd. Finally, TheStreet raised shares of Ashland Global Holdings from a “c+” rating to a “b” rating in a research report on Wednesday, April 26th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $107.67.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. boosted its position in Ashland Global Holdings by 3.7% in the first quarter. Ameriprise Financial Inc. now owns 198,005 shares of the basic materials company’s stock worth $24,516,000 after buying an additional 6,986 shares during the period. Advisor Partners LLC boosted its position in Ashland Global Holdings by 1.1% in the first quarter. Advisor Partners LLC now owns 1,969 shares of the basic materials company’s stock worth $244,000 after buying an additional 22 shares during the period. Northstar Group Inc. purchased a new position in Ashland Global Holdings during the first quarter worth $218,000. Creative Planning boosted its position in Ashland Global Holdings by 0.3% in the first quarter. Creative Planning now owns 1,426 shares of the basic materials company’s stock worth $177,000 after buying an additional 4 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its position in Ashland Global Holdings by 157.5% in the first quarter. Ameritas Investment Partners Inc. now owns 28,841 shares of the basic materials company’s stock worth $3,571,000 after buying an additional 17,641 shares during the period. Institutional investors and hedge funds own 89.38% of the company’s stock.
Shares of Ashland Global Holdings (NYSE:ASH) traded up 1.10% during trading on Friday, hitting $66.31. The stock had a trading volume of 675,495 shares. The stock has a 50 day moving average of $65.72 and a 200 day moving average of $60.10. The firm’s market cap is $4.13 billion. Ashland Global Holdings has a 52-week low of $60.27 and a 52-week high of $128.19.
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About Ashland Global Holdings
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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