Ashland (NYSE:ASH) Posts Earnings Results, Misses Estimates By $0.15 EPS

Ashland (NYSE:ASH – Get Free Report) released its quarterly earnings data on Tuesday. The basic materials company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.15), Zacks reports. Ashland had a net margin of 2.82% and a return on equity of 8.03%. The business had revenue of $996.00 million during the quarter, compared to analysts’ expectations of $501.76 million. During the same quarter in the previous year, the company posted $1.08 EPS. The company’s revenue was up 4.2% compared to the same quarter last year.

Ashland Stock Performance

NYSE:ASH traded down $1.22 during trading hours on Tuesday, reaching $72.97. 896,171 shares of the company’s stock were exchanged, compared to its average volume of 766,982. The company has a quick ratio of 1.89, a current ratio of 3.05 and a debt-to-equity ratio of 0.73. Ashland has a 1-year low of $47.12 and a 1-year high of $78.25. The company has a 50-day moving average of $71.51 and a 200 day moving average of $63.92. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 64.01, a P/E/G ratio of 1.85 and a beta of 0.40.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a dividend of $0.42 per share. The ex-dividend date was Tuesday, September 1st. This represents a $1.68 dividend on an annualized basis and a yield of 2.3%. Ashland’s dividend payout ratio is currently 147.37%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ASH shares. UBS Group lowered their price target on Ashland from $83.00 to $80.00 and set a “buy” rating for the company in a report on Monday, October 5th. Weiss Ratings upgraded shares of Ashland from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Wells Fargo & Company set a $75.00 target price on shares of Ashland in a report on Friday, October 16th. JPMorgan Chase & Co. increased their target price on shares of Ashland from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Finally, Zacks Research upgraded shares of Ashland from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 16th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.10.

Check Out Our Latest Stock Report on ASH

Ashland Company Profile

(Get Free Report)

Ashland Inc is a global specialty materials company that develops and supplies functional ingredients, additives and solutions for industrial and consumer markets. Its products are used to enhance the performance, stability, texture, appearance and processing of finished goods.

The company serves a range of industries, including pharmaceuticals, personal care, coatings, construction, food and beverages, adhesives and specialty chemicals. Its portfolio includes polymers, cellulose-based ingredients, rheology modifiers, film-forming agents, preservatives and other specialty additives used in applications such as drug delivery, skin and hair care, architectural coatings and building materials.

Ashland traces its roots to 1924, when it was established as Ashland Refining Company in Kentucky.

Further Reading

Earnings History for Ashland (NYSE:ASH)

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