Ashland Global (NYSE:ASH) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS
Ashland Global (NYSE:ASH) issued its quarterly earnings data on Tuesday. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.01), Fidelity Earnings reports. The company had revenue of $574.00 million for the quarter, compared to analyst estimates of $574.61 million. Ashland Global had a positive return on equity of 4.79% and a negative net margin of 4.39%. The company’s revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business earned $0.77 earnings per share.
NYSE:ASH traded down $1.23 during mid-day trading on Friday, reaching $74.17. The stock had a trading volume of 8,358 shares, compared to its average volume of 470,671. The stock has a 50-day simple moving average of $70.81 and a two-hundred day simple moving average of $66.28. The stock has a market capitalization of $4.46 billion, a PE ratio of -42.08, a P/E/G ratio of 2.84 and a beta of 1.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.78 and a quick ratio of 1.06. Ashland Global has a 12 month low of $38.88 and a 12 month high of $81.82.
Several equities research analysts have issued reports on the stock. BMO Capital Markets upgraded shares of Ashland Global from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $87.00 to $75.00 in a research report on Monday, April 13th. Wells Fargo & Co raised their price objective on shares of Ashland Global from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday. Monness Crespi & Hardt raised their price objective on shares of Ashland Global from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday. SunTrust Banks raised their price objective on shares of Ashland Global from $75.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Deutsche Bank raised their target price on shares of Ashland Global from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $82.60.
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.
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