AK Steel Holding Corporation (NYSE:AKS) issued its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06, MarketWatch Earnings reports. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.55 billion. AK Steel Holding Corporation had a return on equity of 735.25% and a net margin of 1.88%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 EPS.
Shares of AK Steel Holding Corporation (AKS) opened at 5.11 on Friday. The stock has a market cap of $1.61 billion, a P/E ratio of 13.38 and a beta of 2.86. The firm’s 50 day moving average price is $6.08 and its 200 day moving average price is $6.83. AK Steel Holding Corporation has a 52-week low of $3.87 and a 52-week high of $11.39.
Several equities analysts have recently issued reports on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $9.00 target price on shares of AK Steel Holding Corporation in a report on Wednesday, June 28th. Deutsche Bank AG raised AK Steel Holding Corporation from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Friday, June 23rd. Longbow Research raised AK Steel Holding Corporation from a “neutral” rating to a “buy” rating in a report on Monday, June 19th. Clarkson Capital raised AK Steel Holding Corporation from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a report on Thursday, May 25th. Finally, ValuEngine lowered AK Steel Holding Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. AK Steel Holding Corporation currently has a consensus rating of “Hold” and an average target price of $8.06.
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A number of institutional investors have recently modified their holdings of the company. Stifel Financial Corp bought a new position in shares of AK Steel Holding Corporation during the first quarter worth approximately $110,000. Meadow Creek Investment Management LLC increased its position in shares of 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 in the last quarter. Alps Advisors Inc. increased its position in shares of 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 in the last quarter. Riverhead Capital Management LLC increased its position in shares of AK Steel Holding Corporation by 74.4% in the second quarter. Riverhead Capital Management LLC now owns 17,616 shares of the basic materials company’s stock worth $116,000 after buying an additional 7,516 shares in the last quarter. Finally, Wedbush Securities Inc. bought a new position in shares of AK Steel Holding Corporation during the first quarter worth approximately $128,000. Institutional investors and hedge funds own 77.43% 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.
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