Wall Street brokerages expect AK Steel Holding Co. (NYSE:AKS) to post $1.70 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for AK Steel’s earnings, with the highest sales estimate coming in at $1.71 billion and the lowest estimate coming in at $1.69 billion. AK Steel reported sales of $1.50 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 13.3%. The business is expected to report its next quarterly earnings report on Tuesday, January 29th.
According to Zacks, analysts expect that AK Steel will report full-year sales of $6.84 billion for the current year, with estimates ranging from $6.82 billion to $6.85 billion. For the next fiscal year, analysts anticipate that the business will report sales of $7.12 billion, with estimates ranging from $6.87 billion to $7.36 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow AK Steel.
AK Steel (NYSE:AKS) last announced its earnings results on Thursday, October 25th. The basic materials company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.02). AK Steel had a return on equity of 45.52% and a net margin of 0.67%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.82 billion.
A number of brokerages recently commented on AKS. ValuEngine raised AK Steel from a “strong sell” rating to a “sell” rating in a report on Monday, July 30th. Morgan Stanley raised AK Steel from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $6.00 to $5.50 in a report on Monday, August 27th. Zacks Investment Research raised AK Steel from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Tuesday, July 17th. Seaport Global Securities began coverage on AK Steel in a report on Thursday, October 11th. They issued a “neutral” rating and a $5.00 target price on the stock. Finally, Clarkson Capital raised AK Steel from a “neutral” rating to a “buy” rating in a report on Tuesday, September 11th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $5.36.
Shares of AK Steel stock opened at $3.66 on Friday. AK Steel has a one year low of $3.42 and a one year high of $6.80. The firm has a market capitalization of $1.21 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.26 and a beta of 2.85. The company has a current ratio of 2.03, a quick ratio of 0.77 and a debt-to-equity ratio of 4.65.
In other AK Steel news, CEO Roger K. Newport purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were acquired at an average cost of $4.03 per share, with a total value of $40,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 451,297 shares in the company, valued at $1,818,726.91. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.13% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. raised its holdings in AK Steel by 12.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,266,504 shares of the basic materials company’s stock valued at $9,837,000 after acquiring an additional 244,247 shares during the period. Creative Planning raised its holdings in AK Steel by 5.8% during the second quarter. Creative Planning now owns 1,810,936 shares of the basic materials company’s stock valued at $7,859,000 after acquiring an additional 100,004 shares during the period. OppenheimerFunds Inc. raised its holdings in AK Steel by 13.4% during the second quarter. OppenheimerFunds Inc. now owns 822,828 shares of the basic materials company’s stock valued at $3,571,000 after acquiring an additional 97,088 shares during the period. United Services Automobile Association raised its holdings in AK Steel by 615.9% during the second quarter. United Services Automobile Association now owns 344,674 shares of the basic materials company’s stock valued at $101,827,000 after acquiring an additional 296,531 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in AK Steel by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 7,357,323 shares of the basic materials company’s stock valued at $31,931,000 after acquiring an additional 460,313 shares during the period. 64.85% of the stock is currently owned by institutional investors and hedge funds.
About AK Steel
AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, stainless, and electrical steels, and tubular products in the United States and internationally. It produces flat-rolled carbon steel products, including coated, cold-rolled, and hot-rolled carbon steel products; grain-oriented specialty stainless and electrical steels; and carbon and stainless steel tubing products.
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