The following ratings changes were generated on Wednesday, Jan. 28
We've downgraded diversified chemical company Ashland(ASH Quote) from hold to sell, driven by its generally disappointing historical performance in the stock itself, feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and weak operating cash flow.
Earnings per share fell 388.3% compared with the year-ago quarter. EPS have declined over the last year, and we anticipate that this should continue in the coming year. Net income fell from $33 million in the year-ago quarter to -$119 million, underperforming significantly the S&P 500 and the chemicals industry. Return on equity also fell, a clear sign of weakness within the company. Net operating cash flow is down 62.1% to $25 million. ...
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