Ashland (NYSE:ASH) Announces Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Ashland (NYSE:ASH) posted its quarterly earnings results on Wednesday. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.13, Yahoo Finance reports. Ashland had a net margin of 9.09% and a return on equity of 5.57%. The firm had revenue of $575.00 million during the quarter, compared to analyst estimates of $574.64 million. During the same quarter in the prior year, the business posted $1.43 earnings per share. The company’s quarterly revenue was down 4.6% compared to the same quarter last year.

Ashland Trading Up 0.0 %

ASH traded up $0.02 during midday trading on Friday, reaching $95.81. 229,841 shares of the company’s stock traded hands, compared to its average volume of 446,250. Ashland has a 52 week low of $70.82 and a 52 week high of $99.55. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 25.41 and a beta of 0.92. The firm has a fifty day moving average of $95.59 and a two-hundred day moving average of $86.72. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.15 and a quick ratio of 1.88.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wolfe Research began coverage on Ashland in a research note on Friday, March 1st. They issued an “outperform” rating and a $108.00 target price for the company. Jefferies Financial Group upgraded shares of Ashland from a “hold” rating to a “buy” rating and upped their target price for the stock from $100.00 to $126.00 in a research report on Thursday, March 14th. Mizuho raised their price target on shares of Ashland from $101.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on Ashland from $88.00 to $90.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, StockNews.com upgraded Ashland from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Ashland currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.11.

Ashland Company Profile

Ashland Inc provides additives and specialty ingredients in the North and Latin America, Europe, Asia Pacific, and internationally. It operates through Life Sciences, Personal Care, Specialty Additives, and Intermediates segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.