Equities Analysts Set Expectations for Ashland Inc.’s Q3 2024 Earnings (NYSE:ASH)

Ashland Inc. (NYSE:ASH) – Equities researchers at Seaport Res Ptn dropped their Q3 2024 EPS estimates for Ashland in a note issued to investors on Monday, May 6th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will post earnings of $1.54 per share for the quarter, down from their prior forecast of $1.59. The consensus estimate for Ashland’s current full-year earnings is $4.47 per share. Seaport Res Ptn also issued estimates for Ashland’s FY2024 earnings at $4.83 EPS, Q2 2025 earnings at $1.65 EPS and Q3 2025 earnings at $1.73 EPS.

A number of other equities research analysts have also issued reports on ASH. JPMorgan Chase & Co. increased their target price on Ashland from $88.00 to $90.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. Jefferies Financial Group upgraded shares of Ashland from a “hold” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $126.00 in a research note on Thursday, March 14th. UBS Group upped their target price on shares of Ashland from $114.00 to $116.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Mizuho lifted their price target on shares of Ashland from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, StockNews.com raised shares of Ashland from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Ashland currently has an average rating of “Moderate Buy” and an average target price of $106.44.

Ashland Trading Down 0.5 %

NYSE:ASH opened at $97.57 on Wednesday. The business’s 50-day moving average is $95.87 and its two-hundred day moving average is $87.36. The firm has a market capitalization of $4.89 billion, a PE ratio of 25.88 and a beta of 0.92. Ashland has a 12 month low of $70.82 and a 12 month high of $99.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.15 and a quick ratio of 1.94.

Ashland (NYSE:ASH) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.13. Ashland had a net margin of 9.09% and a return on equity of 5.57%. The business had revenue of $575.00 million for the quarter, compared to the consensus estimate of $574.64 million. During the same quarter last year, the firm posted $1.43 EPS. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ASH. Russell Investments Group Ltd. raised its holdings in shares of Ashland by 56.5% during the first quarter. Russell Investments Group Ltd. now owns 216,102 shares of the basic materials company’s stock valued at $21,042,000 after buying an additional 78,013 shares during the last quarter. Qsemble Capital Management LP raised its stake in Ashland by 7.6% during the 1st quarter. Qsemble Capital Management LP now owns 4,315 shares of the basic materials company’s stock valued at $420,000 after acquiring an additional 305 shares in the last quarter. QRG Capital Management Inc. boosted its position in Ashland by 29.6% during the 1st quarter. QRG Capital Management Inc. now owns 8,693 shares of the basic materials company’s stock worth $846,000 after acquiring an additional 1,984 shares during the period. Inspire Advisors LLC bought a new position in shares of Ashland in the first quarter worth $226,000. Finally, Donoghue Forlines LLC acquired a new position in shares of Ashland during the first quarter valued at $336,000. 93.95% of the stock is currently owned by institutional investors.

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.