-$0.14 EPS Expected for AK Steel Holding Co. (AKS) This Quarter
Equities analysts predict that AK Steel Holding Co. (NYSE:AKS) will announce earnings of ($0.14) per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for AK Steel’s earnings, with the highest EPS estimate coming in at ($0.10) and the lowest estimate coming in at ($0.18). AK Steel reported earnings of $0.25 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 156%. The business is scheduled to issue its next quarterly earnings results on Tuesday, January 23rd.
According to Zacks, analysts expect that AK Steel will report full year earnings of $0.25 per share for the current year, with EPS estimates ranging from $0.20 to $0.32. For the next year, analysts expect that the firm will report earnings of $0.64 per share, with EPS estimates ranging from $0.36 to $1.00. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover AK Steel.
Several research firms have recently commented on AKS. Longbow Research reissued a “neutral” rating on shares of AK Steel in a report on Tuesday, October 3rd. KeyCorp reissued a “hold” rating on shares of AK Steel in a report on Tuesday, September 19th. Credit Suisse Group raised AK Steel from a “neutral” rating to an “outperform” rating and raised their price target for the company from $6.00 to $7.00 in a report on Tuesday, November 21st. Macquarie began coverage on AK Steel in a report on Wednesday, September 6th. They issued an “outperform” rating and a $7.00 price target for the company. Finally, raised AK Steel from a “neutral” rating to an “outperform” rating in a report on Tuesday, November 21st. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $7.46.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKS. State of New Jersey Common Pension Fund D purchased a new position in AK Steel in the 3rd quarter valued at approximately $81,614,000. BW Gestao de Investimentos Ltda. purchased a new position in AK Steel in the 2nd quarter valued at approximately $9,855,000. Teacher Retirement System of Texas increased its stake in AK Steel by 138.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 1,881,542 shares of the basic materials company’s stock valued at $12,362,000 after purchasing an additional 1,093,353 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new position in AK Steel in the 2nd quarter valued at approximately $5,860,000. Finally, Ameriprise Financial Inc. increased its stake in AK Steel by 29.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,760,681 shares of the basic materials company’s stock valued at $24,709,000 after purchasing an additional 865,110 shares in the last quarter. 65.14% of the stock is owned by hedge funds and other institutional investors.
AK Steel (NYSE:AKS) traded up $0.15 during trading on Friday, reaching $5.33. The company’s stock had a trading volume of 15,140,000 shares, compared to its average volume of 19,510,000. AK Steel has a 52 week low of $4.00 and a 52 week high of $11.28. The company has a quick ratio of 0.75, a current ratio of 1.92 and a debt-to-equity ratio of 11.89. The firm has a market cap of $1,680.00, a PE ratio of 8.20, a price-to-earnings-growth ratio of 4.29 and a beta of 2.89.
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About AK Steel
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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