AK Steel Holding Co. (NYSE:AKS) – Analysts at Jefferies Group issued their Q1 2018 earnings per share (EPS) estimates for shares of AK Steel in a report released on Tuesday. Jefferies Group analyst S. Rosenfeld anticipates that the basic materials company will post earnings per share of $0.01 for the quarter. Jefferies Group currently has a “Hold” rating and a $6.00 price objective on the stock. Jefferies Group also issued estimates for AK Steel’s Q3 2018 earnings at $0.12 EPS, Q4 2018 earnings at ($0.02) EPS and FY2018 earnings at $0.40 EPS.
A number of other research analysts have also recently issued reports on the company. Cowen reiterated a “hold” rating and issued a $5.50 target price on shares of AK Steel in a research report on Wednesday. Morgan Stanley decreased their target price on AK Steel from $7.00 to $6.50 and set an “equal weight” rating on the stock in a research report on Wednesday. Bank of America cut AK Steel from a “buy” rating to an “underperform” rating and decreased their target price for the company from $8.00 to $5.50 in a research report on Wednesday. Zacks Investment Research cut AK Steel from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Finally, Longbow Research upgraded AK Steel from a “neutral” rating to a “buy” rating and lifted their target price for the company from $5.53 to $7.00 in a research report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.88.
AK Steel (NYSE:AKS) last released its earnings results on Tuesday, October 31st. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). AK Steel had a net margin of 0.16% and a return on equity of 70.67%. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion.
Institutional investors have recently bought and sold shares of the stock. Crow Point Partners LLC acquired a new position in shares of AK Steel in the fourth quarter worth approximately $110,000. Riverhead Capital Management LLC lifted its stake in shares of AK Steel by 74.4% in the second quarter. Riverhead Capital Management LLC now owns 17,616 shares of the basic materials company’s stock worth $116,000 after acquiring an additional 7,516 shares during the period. MML Investors Services LLC acquired a new position in shares of AK Steel in the second quarter worth approximately $141,000. Raymond James Financial Services Advisors Inc. lifted its stake in shares of AK Steel by 0.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,887 shares of the basic materials company’s stock worth $144,000 after acquiring an additional 193 shares during the period. Finally, IPG Investment Advisors LLC acquired a new position in shares of AK Steel in the third quarter worth approximately $145,000. 65.39% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION WARNING: “AK Steel Holding Co. (AKS) Expected to Post Q1 2018 Earnings of $0.01 Per Share” was reported by American Banking News and is the property of of American Banking News. If you are accessing this article on another publication, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/02/02/ak-steel-holding-co-aks-expected-to-post-q1-2018-earnings-of-0-01-per-share.html.
About AK Steel
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.
Receive News & Ratings for AK Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AK Steel and related companies with MarketBeat.com's FREE daily email newsletter.