Ashland (NYSE:ASH) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Ashland (NYSE:ASH) released its quarterly earnings results on Tuesday. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.45 by $0.04, RTT News reports. Ashland had a return on equity of 5.57% and a net margin of 9.09%. The business had revenue of $544.00 million during the quarter, compared to analyst estimates of $577.08 million. During the same period last year, the business posted $1.23 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. Ashland updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Ashland Stock Performance

Shares of ASH traded up $1.42 during midday trading on Thursday, reaching $83.16. 894,740 shares of the stock were exchanged, compared to its average volume of 411,549. The business’s 50-day moving average price is $95.65 and its 200 day moving average price is $94.80. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.15 and a quick ratio of 1.94. Ashland has a twelve month low of $70.82 and a twelve month high of $102.50. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 0.93 and a beta of 0.90.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ASH shares. Wells Fargo & Company lowered their price target on Ashland from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday. JPMorgan Chase & Co. upgraded Ashland from an “underweight” rating to a “neutral” rating and decreased their target price for the company from $90.00 to $89.00 in a report on Thursday. UBS Group lifted their target price on Ashland from $114.00 to $116.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. StockNews.com lowered Ashland from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, BMO Capital Markets lifted their target price on Ashland from $97.00 to $105.00 and gave the company a “market perform” rating in a report on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ashland has a consensus rating of “Moderate Buy” and a consensus target price of $106.25.

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.