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

Ashland (NYSE:ASH) announced its quarterly earnings data on Wednesday. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.13, Yahoo Finance reports. The firm had revenue of $575.00 million for the quarter, compared to analysts’ expectations of $574.64 million. Ashland had a net margin of 9.09% and a return on equity of 5.57%. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period last year, the firm earned $1.43 earnings per share.

Ashland Stock Up 0.1 %

ASH traded up $0.06 during trading on Friday, hitting $95.85. The company had a trading volume of 229,841 shares, compared to its average volume of 365,361. The company has a market capitalization of $4.80 billion, a PE ratio of 25.41 and a beta of 0.92. The company has a quick ratio of 1.88, a current ratio of 3.15 and a debt-to-equity ratio of 0.42. Ashland has a one year low of $70.82 and a one year high of $99.55. The firm’s 50-day moving average price is $95.62 and its 200 day moving average price is $86.85.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ASH shares. JPMorgan Chase & Co. raised their price target on Ashland from $88.00 to $90.00 and gave the stock an “underweight” rating in a research report on Thursday. Wells Fargo & Company raised Ashland from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $100.00 to $112.00 in a research note on Thursday, April 11th. TheStreet raised shares of Ashland from a “c+” rating to a “b-” rating in a research note on Thursday, February 22nd. Wolfe Research started coverage on shares of Ashland in a report on Friday, March 1st. They issued an “outperform” rating and a $108.00 target price on the stock. Finally, Jefferies Financial Group raised shares of Ashland from a “hold” rating to a “buy” rating and boosted their price target for the company from $100.00 to $126.00 in a report on Thursday, March 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.