Jefferies Financial Group Comments on Ashland Global Holdings Inc’s Q4 2019 Earnings (ASH)

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Ashland Global Holdings Inc (NYSE:ASH) – Stock analysts at Jefferies Financial Group issued their Q4 2019 earnings per share estimates for shares of Ashland Global in a report issued on Wednesday, November 7th. Jefferies Financial Group analyst L. Alexander expects that the basic materials company will earn $1.30 per share for the quarter.

Ashland Global (NYSE:ASH) last released its quarterly earnings results on Tuesday, November 6th. The basic materials company reported $0.97 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.97. Ashland Global had a net margin of 3.05% and a return on equity of 6.69%. The company had revenue of $956.00 million for the quarter, compared to analyst estimates of $926.50 million. During the same quarter last year, the firm posted $0.78 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year.

Other equities analysts have also issued research reports about the stock. KeyCorp reaffirmed a “buy” rating and set a $93.00 target price on shares of Ashland Global in a research report on Thursday, August 2nd. Credit Suisse Group boosted their target price on shares of Ashland Global from $86.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. SunTrust Banks reaffirmed a “buy” rating and set a $90.00 target price on shares of Ashland Global in a research report on Friday, July 20th. UBS Group boosted their target price on shares of Ashland Global from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Finally, TheStreet lowered shares of Ashland Global from a “b” rating to a “c+” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $91.56.

ASH stock traded down $0.58 on Friday, reaching $83.25. 267,809 shares of the company were exchanged, compared to its average volume of 587,859. Ashland Global has a 12 month low of $64.13 and a 12 month high of $86.63. The firm has a market capitalization of $4.86 billion, a P/E ratio of 23.25, a price-to-earnings-growth ratio of 1.97 and a beta of 1.28. The company has a current ratio of 2.25, a quick ratio of 1.37 and a debt-to-equity ratio of 0.72.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of Ashland Global by 0.9% in the 2nd quarter. BlackRock Inc. now owns 5,426,504 shares of the basic materials company’s stock valued at $424,243,000 after purchasing an additional 50,333 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Ashland Global by 0.3% in the 2nd quarter. Schroder Investment Management Group now owns 1,454,873 shares of the basic materials company’s stock valued at $113,596,000 after purchasing an additional 4,458 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ashland Global by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,288,628 shares of the basic materials company’s stock valued at $100,745,000 after purchasing an additional 42,954 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Ashland Global by 11.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,036,595 shares of the basic materials company’s stock valued at $86,929,000 after purchasing an additional 109,300 shares in the last quarter. Finally, Naya Capital Management UK Ltd. boosted its stake in shares of Ashland Global by 25.6% in the 2nd quarter. Naya Capital Management UK Ltd. now owns 658,514 shares of the basic materials company’s stock valued at $51,483,000 after purchasing an additional 134,200 shares in the last quarter. 93.25% of the stock is currently owned by hedge funds and other institutional investors.

In other Ashland Global news, VP Keith C. Silverman sold 2,286 shares of the business’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $84.71, for a total value of $193,647.06. Following the sale, the vice president now owns 4,183 shares of the company’s stock, valued at approximately $354,341.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.14% of the company’s stock.

Ashland Global Company Profile

Ashland Global Holdings Inc provides specialty chemical solutions worldwide. Its Specialty Ingredients segment provides products, technologies, and resources for solving formulation and product-performance challenges. It offers solutions using natural, synthetic, and semisynthetic polymers derived from plant and seed extract, cellulose ethers, vinyl pyrrolidones, and acrylic polymers, as well as polyester and polyurethane-based adhesives.

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

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