FY2020 EPS Estimates for Ashland Global Holdings Inc. Increased by Jefferies Group (ASH)
Ashland Global Holdings Inc. (NYSE:ASH) – Analysts at Jefferies Group boosted their FY2020 EPS estimates for Ashland Global Holdings in a report released on Monday. Jefferies Group analyst L. Alexander now expects that the basic materials company will post earnings of $4.45 per share for the year, up from their previous estimate of $4.00. Jefferies Group has a “Buy” rating and a $77.00 price objective on the stock. Jefferies Group also issued estimates for Ashland Global Holdings’ FY2021 earnings at $5.10 EPS.
Ashland Global Holdings (NYSE:ASH) last released its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. The business had revenue of $880.00 million for the quarter, compared to the consensus estimate of $869.62 million. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.52 EPS. ILLEGAL ACTIVITY NOTICE: This report was originally published by Daily Political and is the sole property of of Daily Political. If you are reading this report on another domain, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this report can be viewed at https://www.dailypolitical.com/2017/11/16/fy2020-eps-estimates-for-ashland-global-holdings-inc-increased-by-jefferies-group-ash.html.
Several other research analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Ashland Global Holdings 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 lifted their target price on shares of Ashland Global Holdings from $65.00 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, November 8th. BidaskClub downgraded shares of Ashland Global Holdings from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. UBS AG lifted their target price on shares of Ashland Global Holdings from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Finally, TheStreet downgraded shares of Ashland Global Holdings from a “b” rating to a “c+” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $81.29.
Ashland Global Holdings (ASH) traded up $3.59 during trading on Wednesday, hitting $70.75. 1,303,310 shares of the stock were exchanged, compared to its average volume of 906,378. The company has a market cap of $4,160.36, a P/E ratio of 14.88, a P/E/G ratio of 1.94 and a beta of 1.07. The company has a quick ratio of 1.31, a current ratio of 1.97 and a debt-to-equity ratio of 0.76. Ashland Global Holdings has a fifty-two week low of $53.79 and a fifty-two week high of $70.89.
Large investors have recently bought and sold shares of the company. Creative Planning increased its holdings in shares of Ashland Global Holdings by 7.1% during the 2nd quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 101 shares during the period. Commonwealth Equity Services Inc bought a new position in shares of Ashland Global Holdings during the 3rd quarter worth about $234,000. Sciencast Management LP bought a new position in shares of Ashland Global Holdings during the 2nd quarter worth about $271,000. Trexquant Investment LP bought a new position in shares of Ashland Global Holdings during the 2nd quarter worth about $290,000. Finally, World Asset Management Inc increased its holdings in shares of Ashland Global Holdings by 2.4% during the 2nd quarter. World Asset Management Inc now owns 4,423 shares of the basic materials company’s stock worth $292,000 after purchasing an additional 104 shares during the period. Institutional investors own 94.23% of the company’s stock.
In other news, CFO J Kevin Willis sold 1,352 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $66.23, for a total transaction of $89,542.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.27% of the company’s stock.
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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