Ashland (NYSE:ASH) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

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

Ashland Stock Up 1.7 %

NYSE ASH opened at $83.16 on Friday. 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 $95.32 and its 200 day simple moving average is $94.72. Ashland has a 12 month low of $70.82 and a 12 month high of $102.50. The company has a market capitalization of $4.17 billion, a P/E ratio of 22.06, a PEG ratio of 0.93 and a beta of 0.90.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Ashland from an “underweight” rating to a “neutral” rating and cut their price objective for the company from $90.00 to $89.00 in a research report on Thursday. Mizuho boosted their price target on shares of Ashland from $101.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. BMO Capital Markets dropped their price target on shares of Ashland from $105.00 to $92.00 and set a “market perform” rating on the stock in a research report on Friday. UBS Group boosted their price target on shares of Ashland from $114.00 to $116.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $104.63.

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.