AK Steel Holding Corporation (NYSE:AKS) - Jefferies Group lowered their Q3 2017 EPS estimates for AK Steel Holding Corporation in a report issued on Wednesday. Jefferies Group analyst S. Rosenfeld now expects that the basic materials company will post earnings of $0.05 per share for the quarter, down from their previous forecast of $0.12. Jefferies Group currently has a “Buy” rating and a $9.00 price target on the stock. Jefferies Group also issued estimates for AK Steel Holding Corporation’s FY2017 earnings at $0.46 EPS.
A number of other brokerages have also recently commented on AKS. Clarkson Capital upgraded shares of AK Steel Holding Corporation from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Thursday, May 25th. Cowen and Company restated a “market perform” rating and set a $7.00 price target on shares of AK Steel Holding Corporation in a research note on Friday, May 12th. Longbow Research started coverage on shares of AK Steel Holding Corporation in a research note on Friday, May 19th. They set a “neutral” rating for the company. Deutsche Bank AG restated a “buy” rating and set a $10.00 price target on shares of AK Steel Holding Corporation in a research note on Thursday, July 6th. Finally, Barclays PLC cut their price target on shares of AK Steel Holding Corporation from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $8.32.
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Shares of AK Steel Holding Corporation (NYSE:AKS) opened at 6.20 on Friday. AK Steel Holding Corporation has a 12 month low of $3.87 and a 12 month high of $11.39. The company’s 50 day moving average price is $6.31 and its 200 day moving average price is $7.30. The stock has a market capitalization of $1.95 billion, a PE ratio of 24.03 and a beta of 2.89.
AK Steel Holding Corporation (NYSE:AKS) last posted its quarterly earnings data on Tuesday, April 25th. The basic materials company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.04. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.49 billion. AK Steel Holding Corporation had a negative return on equity of 235.11% and a net margin of 1.16%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) earnings per share.
Several hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue raised its stake in AK Steel Holding Corporation by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 34,900 shares of the basic materials company’s stock valued at $250,000 after buying an additional 930 shares during the last quarter. Boston Advisors LLC raised its stake in AK Steel Holding Corporation by 28.4% in the first quarter. Boston Advisors LLC now owns 536,600 shares of the basic materials company’s stock valued at $3,858,000 after buying an additional 118,820 shares during the last quarter. Palisade Capital Management LLC NJ purchased a new stake in AK Steel Holding Corporation during the first quarter valued at $284,000. Louisiana State Employees Retirement System raised its stake in AK Steel Holding Corporation by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 128,200 shares of the basic materials company’s stock valued at $922,000 after buying an additional 2,400 shares during the last quarter. Finally, Creative Planning raised its stake in AK Steel Holding Corporation by 59.1% in the first quarter. Creative Planning now owns 1,439,386 shares of the basic materials company’s stock valued at $10,349,000 after buying an additional 534,914 shares during the last quarter. 77.39% of the stock is owned by institutional investors.
AK Steel Holding Corporation Company Profile
AK Steel Holding Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company also operates blast furnaces and electric arc furnaces. As of December 31, 2016, its operations included eight steelmaking and finishing plants, two coke plants and two tube manufacturing plants across states, including Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia, and a tube manufacturing plant in Mexico.
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