Zacks: Analysts Expect AK Steel Holding Co. (AKS) to Post $0.07 Earnings Per Share

Wall Street analysts expect that AK Steel Holding Co. (NYSE:AKS) will announce $0.07 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for AK Steel’s earnings, with the highest EPS estimate coming in at $0.27 and the lowest estimate coming in at ($0.06). AK Steel reported earnings per share of $0.19 in the same quarter last year, which would suggest a negative year over year growth rate of 63.2%. The company is expected to announce its next quarterly earnings results before the market opens on Monday, April 30th.

According to Zacks, analysts expect that AK Steel will report full-year earnings of $0.60 per share for the current financial year, with EPS estimates ranging from $0.30 to $0.84. For the next fiscal year, analysts forecast that the firm will post earnings of $0.76 per share, with EPS estimates ranging from $0.05 to $1.30. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for AK Steel.

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AK Steel (NYSE:AKS) last posted its quarterly earnings data on Tuesday, January 30th. The basic materials company reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.07. AK Steel had a net margin of 0.16% and a return on equity of 71.24%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm posted $0.25 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year.

A number of research analysts have commented on the stock. ValuEngine downgraded shares of AK Steel from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Goldman Sachs assumed coverage on shares of AK Steel in a research note on Tuesday, March 20th. They set a “neutral” rating and a $6.00 price objective on the stock. Zacks Investment Research downgraded shares of AK Steel from a “hold” rating to a “sell” rating in a research note on Tuesday, March 13th. Vetr downgraded shares of AK Steel from a “strong-buy” rating to a “buy” rating and set a $6.34 price objective on the stock. in a research note on Thursday, March 8th. Finally, Cowen reiterated a “hold” rating and set a $5.50 price objective on shares of AK Steel in a research note on Wednesday, January 31st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. AK Steel has an average rating of “Hold” and an average target price of $6.65.

Large investors have recently modified their holdings of the business. Masters Capital Management LLC acquired a new stake in shares of AK Steel during the fourth quarter worth $5,660,000. Royce & Associates LP raised its holdings in shares of AK Steel by 18.8% during the fourth quarter. Royce & Associates LP now owns 2,176,109 shares of the basic materials company’s stock worth $12,317,000 after purchasing an additional 345,000 shares during the period. OppenheimerFunds Inc. raised its holdings in shares of AK Steel by 5.9% during the fourth quarter. OppenheimerFunds Inc. now owns 749,320 shares of the basic materials company’s stock worth $4,241,000 after purchasing an additional 41,815 shares during the period. Pinebridge Investments L.P. increased its holdings in shares of AK Steel by 52.4% in the 4th quarter. Pinebridge Investments L.P. now owns 302,563 shares of the basic materials company’s stock worth $1,712,000 after acquiring an additional 104,043 shares during the period. Finally, Two Sigma Securities LLC increased its holdings in shares of AK Steel by 139.0% in the 4th quarter. Two Sigma Securities LLC now owns 55,996 shares of the basic materials company’s stock worth $317,000 after acquiring an additional 32,567 shares during the period. 67.77% of the stock is currently owned by institutional investors.

NYSE AKS traded down $0.20 during trading hours on Friday, reaching $4.37. 12,571,943 shares of the company traded hands, compared to its average volume of 15,422,326. AK Steel has a 12 month low of $4.00 and a 12 month high of $7.70. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.83 and a quick ratio of 0.69. The company has a market capitalization of $1,377.79, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.45 and a beta of 2.89.

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AK Steel Company Profile

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.

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