Ashland Global (ASH) Updates Q2 2019 Earnings Guidance

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Ashland Global (NYSE:ASH) updated its second quarter 2019 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.80-0.90 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.83. Ashland Global also updated its FY 2019 guidance to $3.10-3.40 EPS.

Several equities analysts have weighed in on the company. Zacks Investment Research cut Ashland Global from a buy rating to a hold rating in a research note on Wednesday, December 5th. Credit Suisse Group restated a buy rating and set a $90.00 price objective on shares of Ashland Global in a research note on Monday. Deutsche Bank raised their price objective on Ashland Global from $96.00 to $100.00 and gave the company a buy rating in a research note on Friday, November 16th. TheStreet cut Ashland Global from a b rating to a c+ rating in a research note on Wednesday, November 7th. Finally, Buckingham Research assumed coverage on Ashland Global in a research note on Monday, December 17th. They set a neutral rating on the stock. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Ashland Global currently has a consensus rating of Buy and a consensus target price of $89.80.

Shares of Ashland Global stock opened at $77.30 on Wednesday. Ashland Global has a 1 year low of $64.81 and a 1 year high of $86.63. The firm has a market cap of $4.78 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 2.37 and a beta of 1.30. The company has a quick ratio of 0.98, a current ratio of 1.59 and a debt-to-equity ratio of 0.67.

Ashland Global (NYSE:ASH) last announced its earnings results on Tuesday, November 6th. The basic materials company reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. Ashland Global had a return on equity of 6.71% and a net margin of 3.05%. The firm had revenue of $956.00 million during the quarter, compared to analyst estimates of $926.50 million. During the same period last year, the firm posted $0.78 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. Equities analysts expect that Ashland Global will post 3.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Thursday, February 28th. Ashland Global’s dividend payout ratio is presently 27.93%.

In other news, CFO J Kevin Willis sold 2,455 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $80.94, for a total transaction of $198,707.70. Following the completion of the sale, the chief financial officer now directly owns 17,114 shares of the company’s stock, valued at approximately $1,385,207.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Keith C. Silverman sold 322 shares of the firm’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $81.57, for a total value of $26,265.54. Following the sale, the vice president now directly owns 3,380 shares of the company’s stock, valued at $275,706.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,067 shares of company stock valued at $1,224,405. Insiders own 1.14% of the company’s stock.

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About Ashland Global

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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Earnings History and Estimates for Ashland Global (NYSE:ASH)

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