Ashland Global Holdings Inc. (NYSE:ASH) has earned a consensus rating of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $101.40.
Several analysts recently issued reports on ASH shares. TheStreet upgraded shares of Ashland Global Holdings from a “c” rating to a “b+” rating in a report on Friday, June 16th. Zacks Investment Research upgraded shares of Ashland Global Holdings from a “hold” rating to a “buy” rating and set a $139.00 price objective on the stock in a report on Friday, April 28th. ValuEngine upgraded shares of Ashland Global Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, May 16th. Credit Suisse Group set a $122.00 price objective on shares of Ashland Global Holdings and gave the company a “hold” rating in a report on Thursday, April 27th. Finally, J P Morgan Chase & Co boosted their price target on shares of Ashland Global Holdings from $61.00 to $118.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 31st.
Hedge funds have recently added to or reduced their stakes in the company. Creative Planning raised its stake in Ashland Global Holdings by 7.1% in the second quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock worth $101,000 after buying an additional 101 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in Ashland Global Holdings during the fourth quarter worth $113,000. Bollard Group LLC raised its stake in Ashland Global Holdings by 0.3% in the first quarter. Bollard Group LLC now owns 930 shares of the basic materials company’s stock worth $115,000 after buying an additional 3 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Ashland Global Holdings by 8.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,273 shares of the basic materials company’s stock worth $143,000 after buying an additional 99 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in Ashland Global Holdings by 4.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,658 shares of the basic materials company’s stock worth $192,000 after buying an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 89.69% of the company’s stock.
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Shares of Ashland Global Holdings (NYSE ASH) traded down 2.18% during trading on Tuesday, hitting $63.41. The stock had a trading volume of 1,344,803 shares. The company’s market capitalization is $3.95 billion. The firm has a 50-day moving average of $66.24 and a 200 day moving average of $62.02. Ashland Global Holdings has a 1-year low of $51.61 and a 1-year high of $67.90.
Ashland Global Holdings (NYSE:ASH) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.13. The firm had revenue of $870 million for the quarter, compared to analysts’ expectations of $842.78 million. Ashland Global Holdings had a negative net margin of 2.26% and a positive return on equity of 13.53%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.95 EPS. Equities research analysts predict that Ashland Global Holdings will post $4.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a dividend of $0.225 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.42%. Ashland Global Holdings’s payout ratio is -48.13%.
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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