Seaport Global Securities Weighs in on Ashland Global Holdings Inc.’s Q1 2018 Earnings (ASH)

Ashland Global Holdings Inc. (NYSE:ASH) – Seaport Global Securities cut their Q1 2018 earnings estimates for shares of Ashland Global Holdings in a research report issued on Wednesday. Seaport Global Securities analyst M. Harrison now expects that the basic materials company will post earnings per share of $0.42 for the quarter, down from their previous forecast of $0.60. Seaport Global Securities also issued estimates for Ashland Global Holdings’ Q2 2018 earnings at $0.89 EPS, Q3 2018 earnings at $1.04 EPS, Q4 2018 earnings at $0.93 EPS, FY2018 earnings at $3.27 EPS, Q1 2019 earnings at $0.65 EPS, Q2 2019 earnings at $1.09 EPS, Q3 2019 earnings at $1.20 EPS, Q4 2019 earnings at $1.11 EPS and FY2019 earnings at $4.04 EPS.

Ashland Global Holdings (NYSE:ASH) last announced its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.09. The firm had revenue of $880.00 million for the quarter, compared to analyst estimates of $869.62 million. The business’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.52 earnings per share.

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ASH has been the subject of several other reports. Deutsche Bank AG upped their price target on Ashland Global Holdings from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. SunTrust Banks, Inc. restated a “buy” rating and set a $74.00 price target on shares of Ashland Global Holdings in a research note on Friday, November 10th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $74.00 target price on shares of Ashland Global Holdings in a research report on Sunday, July 30th. TheStreet downgraded Ashland Global Holdings from a “b” rating to a “c+” rating in a research report on Tuesday, August 1st. Finally, BidaskClub downgraded Ashland Global Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Ashland Global Holdings currently has an average rating of “Hold” and an average target price of $81.29.

Shares of Ashland Global Holdings (ASH) opened at $70.76 on Friday. The company has a market capitalization of $4,160.36, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.94 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.31 and a current ratio of 1.97. Ashland Global Holdings has a 12 month low of $53.79 and a 12 month high of $70.89.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.27%. The ex-dividend date is Thursday, November 30th. Ashland Global Holdings’s payout ratio is currently -9,000,000.00%.

In other Ashland Global Holdings news, CFO J Kevin Willis sold 1,352 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $66.23, for a total transaction of $89,542.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.27% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in ASH. Wellington Management Group LLP raised its stake in Ashland Global Holdings by 197.1% during the first quarter. Wellington Management Group LLP now owns 5,467 shares of the basic materials company’s stock valued at $677,000 after buying an additional 3,627 shares in the last quarter. Capstone Asset Management Co. raised its position in shares of Ashland Global Holdings by 3.4% during the 2nd quarter. Capstone Asset Management Co. now owns 6,379 shares of the basic materials company’s stock worth $420,000 after purchasing an additional 208 shares during the period. Creative Planning raised its position 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. Oregon Public Employees Retirement Fund raised its position in shares of Ashland Global Holdings by 4.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 22,852 shares of the basic materials company’s stock worth $1,506,000 after purchasing an additional 992 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in shares of Ashland Global Holdings by 3.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 16,200 shares of the basic materials company’s stock worth $1,068,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 94.23% 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.

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

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