AK Steel Holding Co. (NYSE:AKS) – Stock analysts at Jefferies Financial Group reduced their Q3 2019 earnings estimates for AK Steel in a research report issued on Wednesday, October 16th. Jefferies Financial Group analyst M. Englert now forecasts that the basic materials company will post earnings of $0.16 per share for the quarter, down from their prior estimate of $0.18. Jefferies Financial Group also issued estimates for AK Steel’s FY2020 earnings at $0.35 EPS, FY2022 earnings at $0.58 EPS and FY2023 earnings at $0.72 EPS.

AK Steel (NYSE:AKS) last announced its quarterly earnings data on Monday, July 29th. The basic materials company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.15. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.73 billion. AK Steel had a net margin of 2.40% and a return on equity of 57.52%. The firm’s revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share.

Several other analysts also recently commented on the stock. Cowen reissued a “market perform” rating and issued a $2.40 target price (up from $1.90) on shares of AK Steel in a research report on Wednesday, July 31st. Citigroup set a $3.00 target price on shares of AK Steel and gave the stock a “hold” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. downgraded shares of AK Steel from an “overweight” rating to an “underweight” rating in a research report on Monday, September 23rd. ValuEngine raised shares of AK Steel from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, BMO Capital Markets set a $3.00 target price on shares of AK Steel and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $2.52.

AKS stock opened at $2.46 on Friday. The company has a quick ratio of 0.76, a current ratio of 2.02 and a debt-to-equity ratio of 4.54. The company has a market capitalization of $759.32 million, a price-to-earnings ratio of 3.84, a P/E/G ratio of 1.15 and a beta of 3.02. AK Steel has a 12 month low of $1.66 and a 12 month high of $4.70. The firm has a 50 day moving average of $2.37 and a two-hundred day moving average of $2.35.

Several institutional investors have recently modified their holdings of the company. NEXT Financial Group Inc lifted its stake in shares of AK Steel by 93.7% in the third quarter. NEXT Financial Group Inc now owns 68,213 shares of the basic materials company’s stock worth $155,000 after buying an additional 33,000 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of AK Steel in the third quarter worth $61,000. Everence Capital Management Inc. acquired a new stake in shares of AK Steel in the third quarter worth $119,000. State of Alaska Department of Revenue lifted its stake in shares of AK Steel by 125.8% in the third quarter. State of Alaska Department of Revenue now owns 243,046 shares of the basic materials company’s stock worth $551,000 after buying an additional 135,403 shares during the last quarter. Finally, Nomura Holdings Inc. lifted its stake in shares of AK Steel by 12.0% in the second quarter. Nomura Holdings Inc. now owns 233,580 shares of the basic materials company’s stock worth $555,000 after buying an additional 25,000 shares during the last quarter. Institutional investors and hedge funds own 61.70% of the company’s stock.

About AK Steel

AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, and stainless and electrical steel products in the United States and internationally. It produces flat-rolled carbon steel products, including coated, cold-rolled, and hot-rolled carbon steel products; grain-oriented specialty stainless and electrical steels; and carbon and stainless steel tubing products.

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Earnings History and Estimates for AK Steel (NYSE:AKS)

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