Published On: Mon, Sep 19th, 2016

Equities Analysts Set Expectations for AK Steel Holding Corp.’s FY2016 Earnings (AKS)

AK Steel Holding Corp. (NYSE:AKS) – Stock analysts at Jefferies Group reduced their FY2016 earnings per share estimates for AK Steel Holding Corp. in a report issued on Thursday. Jefferies Group analyst S. Rosenfeld now expects that the brokerage will post earnings of $0.14 per share for the year, down from their prior estimate of $0.36. Jefferies Group has a “Hold” rating and a $4.50 price objective on the stock. Jefferies Group also issued estimates for AK Steel Holding Corp.’s Q4 2016 earnings at $0.05 EPS and FY2017 earnings at $0.36 EPS.
AK Steel Holding Corp. (NYSE:AKS) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.10. AK Steel Holding Corp. had a negative net margin of 2.18% and a negative return on equity of 12.89%. The business earned $1.49 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the business posted ($0.36) EPS. The company’s quarterly revenue was down 11.7% compared to the same quarter last year.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of AK Steel Holding Corp. from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a report on Tuesday, June 28th. Bank of America Corp. reissued a “sell” rating on shares of AK Steel Holding Corp. in a report on Thursday, June 16th. KeyCorp lowered shares of AK Steel Holding Corp. from a “sector weight” rating to an “underweight” rating and dropped their price objective for the company from $5.15 to $4.00 in a report on Friday, August 19th. Credit Suisse Group AG raised shares of AK Steel Holding Corp. from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $3.50 to $7.00 in a report on Wednesday, June 8th. Finally, Barclays PLC upped their price objective on shares of AK Steel Holding Corp. from $4.00 to $5.00 and gave the company an “equal weight” rating in a report on Tuesday, July 12th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $5.05.

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Shares of AK Steel Holding Corp. (NYSE:AKS) opened at 4.11 on Monday. The company’s market cap is $978.99 million. The stock has a 50 day moving average of $5.22 and a 200 day moving average of $4.61. AK Steel Holding Corp. has a 12-month low of $1.64 and a 12-month high of $7.09.
In related news, Director Vicente Wright sold 27,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $6.70, for a total value of $180,900.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of AKS. Mason Street Advisors LLC purchased a new stake in shares of AK Steel Holding Corp. during the second quarter valued at $217,000. Royal Bank of Canada boosted its stake in shares of AK Steel Holding Corp. by 251.8% in the second quarter. Royal Bank of Canada now owns 100,681 shares of the company’s stock valued at $469,000 after buying an additional 166,984 shares during the period. Sterling Capital Management LLC boosted its stake in shares of AK Steel Holding Corp. by 0.7% in the second quarter. Sterling Capital Management LLC now owns 160,671 shares of the company’s stock valued at $749,000 after buying an additional 1,073 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of AK Steel Holding Corp. by 54.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 876,495 shares of the company’s stock valued at $4,085,000 after buying an additional 310,372 shares during the period. Finally, Amalgamated Bank boosted its stake in shares of AK Steel Holding Corp. by 47.4% in the second quarter. Amalgamated Bank now owns 28,161 shares of the company’s stock valued at $150,000 after buying an additional 9,050 shares during the period. 71.90% of the stock is currently owned by hedge funds and other institutional investors.
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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