Back to top
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Westlake Corp. (WLK) - $25 value - yours FREE >>
Ashland Inc. (ASH) - $25 value - yours FREE >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Westlake Corp. (WLK) - $25 value - yours FREE >>
Ashland Inc. (ASH) - $25 value - yours FREE >>
Image: Bigstock
Ashland (ASH) Announces Hike in Quarterly Dividend Rate
Ashland Global Holdings Inc.’s (ASH - Free Report) board has increased the quarterly cash dividend to 25 cents per share, up 11% from the previous payout. The dividend is payable Jun 15, 2018, to stockholders of record at the close of business on Jun 1.
The company had roughly 62.4 million shares outstanding on Apr 30. Notably, Ashland ended the second quarter of fiscal 2018 with cash and cash equivalents of $225 million compared with $605 million recorded a year ago.
The stock has gained 9.6% in the past three months, outperforming the industry’s 2.6% rise.
Ashland reported net profit of $73 million or $1.15 per share in second-quarter fiscal 2018 compared with net income of $92 million or $1.47. Barring one-time items, adjusted earnings came in at $1.06 per share, which surpassed the Zacks Consensus Estimate of 84 cents.
The company raised its adjusted earnings guidance for fiscal 2018 to $3.30-$3.50 per share, up from $2.90-$3.10 expected earlier. It expects to generate free cash flows of more than $220 million in fiscal 2018, which remains unchanged from the prior guidance.
Ashland projects adjusted earnings in the range of 95 cents to $1.05 per share for third-quarter fiscal 2018.
Ashland Global Holdings Inc. Price and Consensus
Ashland Global Holdings Inc. Price and Consensus | Ashland Global Holdings Inc. Quote
Zacks Rank & Stocks to Consider
Ashland currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth considering in the basic materials space include The Chemours Company (CC - Free Report) , Westlake Chemical Corporation (WLK - Free Report) and Huntsman Corporation (HUN - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chemours has an expected long-term earnings growth rate of 15.5%. Its shares have gained 21.7% in a year.
Westlake Chemical has an expected long-term earnings growth rate of 12.2%. Its shares have rallied 96.2% in a year.
Huntsman has an expected long-term earnings growth rate of 8.3%. Its shares have moved up 29.4% in a year.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>