Jefferies Group Weighs in on AK Steel Holding Corporation’s FY2017 Earnings (AKS)

AK Steel Holding Corporation (NYSE:AKS) – Equities research analysts at Jefferies Group cut their FY2017 EPS estimates for shares of AK Steel Holding Corporation in a research note issued to investors on Tuesday. Jefferies Group analyst S. Rosenfeld now forecasts that the basic materials company will earn $0.51 per share for the year, down from their prior estimate of $0.55. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for AK Steel Holding Corporation’s FY2018 earnings at $0.99 EPS.

AKS has been the subject of several other reports. Deutsche Bank AG reiterated a “buy” rating and issued a $10.00 price objective on shares of AK Steel Holding Corporation in a report on Thursday, July 6th. Macquarie initiated coverage on shares of AK Steel Holding Corporation in a report on Wednesday, September 6th. They issued an “outperform” rating and a $7.00 price objective for the company. Bank of America Corporation reissued a “buy” rating and set a $9.00 target price on shares of AK Steel Holding Corporation in a research note on Wednesday, September 6th. Barclays PLC reissued an “equal weight” rating and set a $7.00 target price (down from $8.00) on shares of AK Steel Holding Corporation in a research note on Wednesday, August 9th. Finally, ValuEngine raised shares of AK Steel Holding Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 22nd. Ten analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $8.28.

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Shares of AK Steel Holding Corporation (NYSE AKS) opened at 5.91 on Thursday. AK Steel Holding Corporation has a 12 month low of $4.71 and a 12 month high of $11.39. The firm has a market cap of $1.86 billion, a P/E ratio of 15.47 and a beta of 2.91. The company has a 50-day moving average of $5.63 and a 200-day moving average of $5.96.

AK Steel Holding Corporation (NYSE:AKS) last announced its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.06. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.55 billion. AK Steel Holding Corporation had a net margin of 1.88% and a return on equity of 735.25%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 earnings per share.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Benefit Street Partners LLC acquired a new position in shares of AK Steel Holding Corporation during the 2nd quarter worth $4,008,000. Archford Capital Strategies LLC increased its stake in shares of AK Steel Holding Corporation by 12,352.2% during the 2nd quarter. Archford Capital Strategies LLC now owns 14,320 shares of the basic materials company’s stock worth $1,909,000 after purchasing an additional 14,205 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of AK Steel Holding Corporation by 139.2% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 155,698 shares of the basic materials company’s stock worth $1,024,000 after purchasing an additional 90,618 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of AK Steel Holding Corporation by 2.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 61,271 shares of the basic materials company’s stock worth $403,000 after purchasing an additional 1,605 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. acquired a new position in shares of AK Steel Holding Corporation during the 2nd quarter worth $9,855,000. Institutional investors own 73.06% of the company’s stock.

About AK Steel Holding Corporation

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.

Earnings History and Estimates for AK Steel Holding Corporation (NYSE:AKS)

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