AK Steel Holding Corporation (AKS) Releases Earnings Results, Beats Estimates By $0.06 EPS

AK Steel Holding Corporation (NYSE:AKS) issued its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.06, MarketWatch Earnings reports. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.55 billion. AK Steel Holding Corporation had a return on equity of 735.25% and a net margin of 1.88%. AK Steel Holding Corporation’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $0.08 EPS.

Shares of AK Steel Holding Corporation (NYSE AKS) traded up 1.87% during midday trading on Friday, hitting $5.46. The stock had a trading volume of 13,004,573 shares. The company has a market capitalization of $1.72 billion, a PE ratio of 14.29 and a beta of 2.86. The firm’s 50-day moving average is $6.27 and its 200 day moving average is $7.01. AK Steel Holding Corporation has a one year low of $3.87 and a one year high of $11.39.

AKS has been the topic of a number of analyst reports. Citigroup Inc. raised AK Steel Holding Corporation from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $8.00 to $7.00 in a research note on Wednesday, April 19th. Jefferies Group LLC lifted their price target on AK Steel Holding Corporation from $9.00 to $11.50 and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Macquarie raised AK Steel Holding Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $7.30 to $8.10 in a research note on Monday, April 24th. Cowen and Company dropped their price target on AK Steel Holding Corporation from $9.00 to $7.00 and set a “market perform” rating on the stock in a research note on Thursday, April 27th. Finally, TheStreet raised AK Steel Holding Corporation from a “d+” rating to a “c” rating in a research note on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.06.

COPYRIGHT VIOLATION WARNING: “[[title]]” was first posted by [[site]] and is owned by of [[site]]. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at [[permalink]].

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Stifel Financial Corp purchased a new position in AK Steel Holding Corporation during the first quarter worth about $110,000. Meadow Creek Investment Management LLC increased its position in AK Steel Holding Corporation by 14.6% in the first quarter. Meadow Creek Investment Management LLC now owns 16,016 shares of the basic materials company’s stock worth $115,000 after buying an additional 2,044 shares during the last quarter. Alps Advisors Inc. increased its position in AK Steel Holding Corporation by 35.0% in the second quarter. Alps Advisors Inc. now owns 17,639 shares of the basic materials company’s stock worth $116,000 after buying an additional 4,573 shares during the last quarter. Wedbush Securities Inc. purchased a new position in AK Steel Holding Corporation during the first quarter worth about $128,000. Finally, World Asset Management Inc increased its position in AK Steel Holding Corporation by 2.5% in the second quarter. World Asset Management Inc now owns 20,471 shares of the basic materials company’s stock worth $134,000 after buying an additional 502 shares during the last quarter. Institutional investors and hedge funds own 77.55% of the company’s stock.

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.