Q3 2024 EPS Estimates for Ashland Inc. Lowered by Analyst (NYSE:ASH)

Ashland Inc. (NYSE:ASH) – Stock analysts at Seaport Res Ptn reduced their Q3 2024 EPS estimates for shares of Ashland in a research note issued to investors on Monday, May 6th. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will post earnings of $1.54 per share for the quarter, down from their previous 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.

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

Several other research firms have also recently commented on ASH. Mizuho increased their price target on Ashland from $101.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. BMO Capital Markets lifted their price target on Ashland from $97.00 to $105.00 and gave the stock a “market perform” rating in a report on Tuesday. Wells Fargo & Company raised shares of Ashland from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $100.00 to $112.00 in a research report on Thursday, April 11th. StockNews.com upgraded shares of Ashland from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, UBS Group boosted their target price on shares of Ashland from $114.00 to $116.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $106.44.

Ashland Trading Up 0.7 %

ASH opened at $98.02 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.15 and a quick ratio of 1.94. The company’s 50 day simple moving average is $95.80 and its two-hundred day simple moving average is $87.29. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 26.00 and a beta of 0.92. Ashland has a 1-year low of $70.82 and a 1-year high of $99.55.

Institutional Trading of Ashland

Hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. boosted its holdings in Ashland by 17.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 4,592 shares of the basic materials company’s stock valued at $375,000 after purchasing an additional 682 shares during the period. Raymond James & Associates increased its stake in shares of Ashland by 4.7% during the third quarter. Raymond James & Associates now owns 6,576 shares of the basic materials company’s stock worth $537,000 after buying an additional 294 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ashland by 13.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,914 shares of the basic materials company’s stock valued at $810,000 after acquiring an additional 1,139 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in Ashland by 24.0% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,822 shares of the basic materials company’s stock worth $213,000 after acquiring an additional 546 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in Ashland by 2.9% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 14,407 shares of the basic materials company’s stock worth $1,177,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 93.95% of the company’s stock.

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.