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

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

Ashland Stock Up 0.0 %

Shares of NYSE:ASH traded up $0.02 during midday trading on Friday, reaching $95.81. The company had a trading volume of 229,841 shares, compared to its average volume of 446,250. The business’s 50 day moving average price is $95.59 and its 200 day moving average price is $86.72. Ashland has a 1-year low of $70.82 and a 1-year high of $99.55. The company has a quick ratio of 1.88, a current ratio of 3.15 and a debt-to-equity ratio of 0.42. The stock has a market cap of $4.80 billion, a PE ratio of 25.41 and a beta of 0.92.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wells Fargo & Company upgraded Ashland from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $100.00 to $112.00 in a research report on Thursday, April 11th. 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. Mizuho lifted their price objective on shares of Ashland from $101.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on Ashland from $88.00 to $90.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, Wolfe Research began coverage on shares of Ashland in a report on Friday, March 1st. They issued an “outperform” rating and a $108.00 price objective for the company. One investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.11.

About Ashland

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.