AK Steel Holding Corp. (AKS) to Post FY2017 Earnings of $0.54 Per Share, KeyCorp Forecasts
AK Steel Holding Corp. (NYSE:AKS) – KeyCorp reduced their FY2017 earnings per share (EPS) estimates for shares of AK Steel Holding Corp. in a research note issued on Monday. KeyCorp analyst P. Gibbs now anticipates that the brokerage will earn $0.54 per share for the year, down from their prior estimate of $0.62. KeyCorp has a “Underweight” rating and a $4.00 price target on the stock.
AKS has been the subject of several other reports. Jefferies Group raised their price target on shares of AK Steel Holding Corp. from $5.00 to $5.50 and gave the stock a “hold” rating in a research note on Wednesday, July 27th. Zacks Investment Research raised shares of AK Steel Holding Corp. from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a research note on Tuesday, June 28th. Rosenblatt Securities began coverage on shares of AK Steel Holding Corp. in a research note on Monday, August 22nd. They set a “buy” rating and a $6.00 price target for the company. Deutsche Bank AG reaffirmed a “sell” rating on shares of AK Steel Holding Corp. in a research note on Thursday, July 7th. Finally, Barclays PLC raised their price target on shares of AK Steel Holding Corp. from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 12th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. AK Steel Holding Corp. has a consensus rating of “Hold” and a consensus target price of $5.05.
AK Steel Holding Corp. (NYSE:AKS) remained flat at $4.30 during trading on Tuesday. 4,443,948 shares of the stock traded hands. The firm’s 50 day moving average is $4.92 and its 200-day moving average is $4.63. The firm’s market cap is $1.02 billion. AK Steel Holding Corp. has a 1-year low of $1.64 and a 1-year high of $7.09.
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AK Steel Holding Corp. (NYSE:AKS) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.10. The business earned $1.49 billion during the quarter, compared to analyst estimates of $1.53 billion. AK Steel Holding Corp. had a negative return on equity of 12.89% and a negative net margin of 2.18%. The company’s revenue was down 11.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.36) EPS.
Several large investors have recently bought and sold shares of AKS. BlackRock Inc. increased its stake in AK Steel Holding Corp. by 61.5% in the first quarter. BlackRock Inc. now owns 24,495 shares of the company’s stock worth $101,000 after buying an additional 9,327 shares in the last quarter. PineBridge Investments L.P. increased its stake in AK Steel Holding Corp. by 41.7% in the second quarter. PineBridge Investments L.P. now owns 30,205 shares of the company’s stock worth $141,000 after buying an additional 8,896 shares in the last quarter. Raymond James & Associates increased its stake in AK Steel Holding Corp. by 4.7% in the second quarter. Raymond James & Associates now owns 30,628 shares of the company’s stock worth $143,000 after buying an additional 1,386 shares in the last quarter. Quantbot Technologies LP purchased a new stake in AK Steel Holding Corp. during the second quarter worth $148,000. Finally, Teacher Retirement System of Texas increased its stake in AK Steel Holding Corp. by 47.0% in the second quarter. Teacher Retirement System of Texas now owns 31,744 shares of the company’s stock worth $148,000 after buying an additional 10,149 shares in the last quarter. 71.90% of the stock is owned by institutional investors.
In other news, Director Vicente Wright sold 27,000 shares of AK Steel Holding Corp. stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $6.70, for a total transaction of $180,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.
AK Steel Holding Corp. Company Profile
AK Steel Holding Corporation is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company operates approximately eight steelmaking and finishing plants, over two coke plants and approximately two tube manufacturing plants across states, which include Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.
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