AK Steel Holding Co. (AKS) Updates Q3 Earnings Guidance
AK Steel Holding Co. (NYSE:AKS) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.05-0.10 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.24, Analyst Ratings News reports.
AKS has been the subject of a number of recent research reports. Analysts at Bank of America reiterated a buy rating on shares of AK Steel Holding in a research note on Thursday, August 28th. They now have a $13.00 price target on the stock, up previously from $11.00. On a related note, analysts at Deutsche Bank reiterated a hold rating on shares of AK Steel Holding in a research note on Thursday, August 7th. They now have a $8.00 price target on the stock, up previously from $6.00. Finally, analysts at Jefferies Group raised their price target on shares of AK Steel Holding from $7.00 to $9.00 in a research note on Thursday, July 31st. They now have a hold rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. AK Steel Holding presently has an average rating of Hold and an average target price of $9.71.
Shares of AK Steel Holding Co. (NYSE:AKS) opened at 10.69 on Wednesday. AK Steel Holding Co. has a 52 week low of $3.30 and a 52 week high of $11.37. The stock has a 50-day moving average of $9.55 and a 200-day moving average of $7.58. The company’s market cap is $1.462 billion.
AK Steel Holding (NYSE:AKS) last released its earnings data on Tuesday, July 29th. The company reported ($0.13) EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted ($0.30) earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Analysts expect that AK Steel Holding Co. will post $0.06 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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