Ashland Inc. (NYSE:ASH) – Equities researchers at Seaport Global Securities cut their Q1 2017 earnings per share (EPS) estimates for Ashland in a report issued on Monday. Seaport Global Securities analyst M. Harrison now forecasts that the brokerage will post earnings of $1.36 per share for the quarter, down from their prior forecast of $1.39. Seaport Global Securities also issued estimates for Ashland’s Q2 2017 earnings at $1.81 EPS, Q3 2017 earnings at $2.13 EPS, Q4 2017 earnings at $1.93 EPS and FY2017 earnings at $7.24 EPS.
A number of other equities research analysts have also commented on ASH. Jefferies Group restated a “buy” rating on shares of Ashland in a report on Wednesday, July 6th. Zacks Investment Research lowered shares of Ashland from a “hold” rating to a “sell” rating in a report on Friday, October 7th. Finally, Credit Suisse Group AG lowered shares of Ashland from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $122.00 to $119.00 in a report on Thursday, July 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $125.00.
Ashland (NYSE:ASH) traded up 0.25% during midday trading on Tuesday, reaching $113.83. 200,613 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $117.52 and a 200 day moving average price of $115.18. The company has a market cap of $7.07 billion, a price-to-earnings ratio of 37.98 and a beta of 1.11. Ashland has a 52 week low of $88.30 and a 52 week high of $125.00.
Ashland (NYSE:ASH) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.04 by $0.09. Ashland had a net margin of 3.86% and a return on equity of 15.90%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company earned $1.91 earnings per share.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Ashland by 1.7% in the second quarter. Vanguard Group Inc. now owns 4,760,801 shares of the company’s stock valued at $546,398,000 after buying an additional 77,778 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Ashland by 4.0% in the second quarter. BlackRock Fund Advisors now owns 2,232,316 shares of the company’s stock valued at $256,203,000 after buying an additional 85,205 shares during the last quarter. State Street Corp raised its stake in shares of Ashland by 2.5% in the first quarter. State Street Corp now owns 2,145,414 shares of the company’s stock valued at $235,921,000 after buying an additional 51,438 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Ashland by 0.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,897,399 shares of the company’s stock valued at $217,764,000 after buying an additional 13,192 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of Ashland by 0.6% in the second quarter. Neuberger Berman Group LLC now owns 1,132,279 shares of the company’s stock valued at $129,952,000 after buying an additional 7,095 shares during the last quarter. Hedge funds and other institutional investors own 86.87% of the company’s stock.
Ashland Company Profile
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.
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