AK Steel Holding Corporation (NYSE:AKS) – Analysts at Jefferies Group cut their FY2017 earnings per share estimates for AK Steel Holding Corporation in a research note issued on Tuesday. Jefferies Group analyst S. Rosenfeld now expects that the basic materials company will post earnings per share of $0.51 for the year, down from their prior estimate of $0.55. Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for AK Steel Holding Corporation’s FY2018 earnings at $0.99 EPS.

Other research analysts have also recently issued reports about the stock. Bank of America Corporation restated a “buy” rating and set a $9.00 price target on shares of AK Steel Holding Corporation in a report on Wednesday, September 6th. ValuEngine cut shares of AK Steel Holding Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Deutsche Bank AG restated a “buy” rating and set a $10.00 price target on shares of AK Steel Holding Corporation in a report on Thursday, July 6th. Clarkson Capital upgraded shares of AK Steel Holding Corporation from a “neutral” rating to a “buy” rating in a report on Wednesday, July 26th. Finally, Barclays PLC restated an “equal weight” rating and set a $7.00 price target (down from $8.00) on shares of AK Steel Holding Corporation in a report on Wednesday, August 9th. Ten research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. AK Steel Holding Corporation currently has a consensus rating of “Hold” and a consensus price target of $8.28.

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Shares of AK Steel Holding Corporation (AKS) traded up 2.070% during midday trading on Thursday, hitting $6.165. 10,941,918 shares of the stock were exchanged. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 16.139 and a beta of 2.91. AK Steel Holding Corporation has a 1-year low of $4.93 and a 1-year high of $11.39. The firm’s 50 day moving average is $5.63 and its 200-day moving average is $5.96.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AKS. Stifel Financial Corp purchased a new position in AK Steel Holding Corporation in the first quarter valued at about $110,000. Alps Advisors Inc. boosted its stake 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 valued at $116,000 after acquiring an additional 4,573 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in 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 valued at $116,000 after acquiring an additional 7,516 shares during the last quarter. World Asset Management Inc boosted its stake 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 valued at $134,000 after acquiring an additional 502 shares during the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new position in AK Steel Holding Corporation in the first quarter valued at about $135,000. Hedge funds and other institutional investors own 73.06% of the company’s stock.

About AK Steel Holding Corporation

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.

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

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