AK Steel Holding Stock Rating Reaffirmed by Nomura (AKS)
AK Steel Holding (NYSE:AKS)‘s stock had its “hold” rating reaffirmed by research analysts at Nomura in a report released on Wednesday. They currently have a $7.00 price objective on the stock, up from their previous price objective of $6.00. Nomura’s target price would suggest a potential downside of 24.32% from the stock’s previous close.
A number of other firms have also recently commented on AKS. Analysts at Cowen and Company raised their price target on shares of AK Steel Holding from $7.50 to $9.00 in a research note on Tuesday, July 22nd. Separately, analysts at Goldman Sachs reiterated a “buy” rating on shares of AK Steel Holding in a research note on Monday, July 21st. Finally, analysts at Zacks reiterated a “neutral” rating on shares of AK Steel Holding in a research note on Tuesday, June 24th. They now have a $8.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $8.63.
AK Steel Holding (NYSE:AKS) opened at 9.25 on Wednesday. AK Steel Holding has a 52-week low of $3.30 and a 52-week high of $9.45. The stock has a 50-day moving average of $8.02 and a 200-day moving average of $7.05. The company’s market cap is $1.265 billion.
AK Steel Holding (NYSE:AKS) last released its earnings data on Tuesday, July 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.09. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the company posted ($0.30) earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts expect that AK Steel Holding will post $-0.15 EPS for the current fiscal year.
AK Steel Holding Corporation (NYSE:AKS) is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its wholly-owned subsidiary, AK Steel Corporation (AK Steel and, together with AK Holding, the Company).
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