Seaport Res Ptn Weighs in on Ashland Global Holdings Inc.’s FY2022 Earnings (NYSE:ASH)

Ashland Global Holdings Inc. (NYSE:ASHGet Rating) – Equities researchers at Seaport Res Ptn boosted their FY2022 EPS estimates for shares of Ashland Global in a note issued to investors on Thursday, July 28th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will post earnings of $5.76 per share for the year, up from their previous forecast of $5.74. The consensus estimate for Ashland Global’s current full-year earnings is $5.58 per share. Seaport Res Ptn also issued estimates for Ashland Global’s FY2023 earnings at $6.54 EPS.

Several other research analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Ashland Global from $122.00 to $120.00 in a report on Tuesday, July 19th. Mizuho raised their price objective on shares of Ashland Global from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Tuesday, July 19th. Stifel Nicolaus lifted their price target on shares of Ashland Global from $136.00 to $140.00 in a report on Monday, July 18th. Wells Fargo & Company reaffirmed a “maintains” rating on shares of Ashland Global in a report on Thursday. Finally, UBS Group lifted their price target on shares of Ashland Global from $127.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $123.75.

Ashland Global Stock Performance

Ashland Global stock opened at $100.47 on Monday. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 6.32 and a beta of 1.10. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.50 and a quick ratio of 1.79. Ashland Global has a 12-month low of $81.93 and a 12-month high of $112.91. The firm’s fifty day moving average price is $102.47 and its 200 day moving average price is $99.38.

Ashland Global (NYSE:ASHGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The basic materials company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.22. Ashland Global had a net margin of 38.83% and a return on equity of 10.59%. During the same quarter in the prior year, the business posted $1.22 EPS.

Institutional Investors Weigh In On Ashland Global

A number of large investors have recently made changes to their positions in the company. Todd Asset Management LLC acquired a new stake in shares of Ashland Global during the second quarter valued at approximately $224,000. Moody Lynn & Lieberson LLC acquired a new stake in shares of Ashland Global during the second quarter valued at approximately $3,806,000. Dupont Capital Management Corp purchased a new position in Ashland Global during the second quarter valued at approximately $240,000. Venture Visionary Partners LLC purchased a new position in Ashland Global during the second quarter valued at approximately $62,000. Finally, Arrow Financial Corp grew its position in Ashland Global by 33.7% during the second quarter. Arrow Financial Corp now owns 1,191 shares of the basic materials company’s stock valued at $123,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 96.75% of the company’s stock.

Insider Buying and Selling at Ashland Global

In other Ashland Global news, insider Eric N. Boni sold 2,657 shares of the business’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $109.50, for a total transaction of $290,941.50. Following the sale, the insider now directly owns 10,640 shares in the company, valued at approximately $1,165,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO J Kevin Willis sold 4,235 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $105.58, for a total value of $447,131.30. Following the sale, the chief financial officer now directly owns 4,066 shares in the company, valued at approximately $429,288.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric N. Boni sold 2,657 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $109.50, for a total transaction of $290,941.50. Following the completion of the sale, the insider now owns 10,640 shares in the company, valued at $1,165,080. The disclosure for this sale can be found here. 7.79% of the stock is currently owned by company insiders.

Ashland Global declared that its Board of Directors has approved a share buyback plan on Wednesday, May 25th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase up to 8.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Ashland Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 1.33%. This is a positive change from Ashland Global’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, May 31st. Ashland Global’s payout ratio is presently 8.43%.

About Ashland Global

(Get Rating)

Ashland Global Holdings Inc provides additives and specialty ingredients worldwide. It operates through Life Sciences; Personal Care & Household; Specialty Additives; and Intermediates and Solvents 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.

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

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