$1.70 Billion in Sales Expected for AK Steel Holding Co. (AKS) This Quarter

Analysts expect AK Steel Holding Co. (NYSE:AKS) to report sales of $1.70 billion for the current quarter, according to Zacks Investment Research. Five analysts have made 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 posted sales of $1.50 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.3%. The company is expected to report its next earnings report on Tuesday, January 29th.

On average, analysts expect that AK Steel will report full year sales of $6.84 billion for the current fiscal year, with estimates ranging from $6.82 billion to $6.85 billion. For the next year, analysts expect that the firm 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 research analysts that that provide coverage for AK Steel.

AK Steel (NYSE:AKS) last announced its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.82 billion. AK Steel had a net margin of 0.67% and a return on equity of 45.52%.

A number of analysts have recently commented on the company. Zacks Investment Research raised AK Steel from a “sell” rating to a “hold” rating in a research note on Monday, November 12th. ValuEngine cut AK Steel from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 24th. Seaport Global Securities started coverage on AK Steel in a research note on Thursday, October 11th. They issued a “neutral” rating and a $5.00 price target for the company. Morgan Stanley set a $5.00 target price on AK Steel and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Finally, Bank of America raised AK Steel from an “underperform” rating to a “buy” rating and set a $6.00 target price for the company in a research note on Friday, September 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. AK Steel has an average rating of “Hold” and an average target price of $5.24.

In other AK Steel news, CEO Roger K. Newport bought 10,000 shares of the stock in a transaction that occurred on Tuesday, November 27th. The stock was acquired at an average cost of $3.03 per share, with a total value of $30,300.00. Following the purchase, the chief executive officer now owns 461,297 shares in the company, valued at $1,397,729.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.13% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. boosted its position in AK Steel by 12.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,266,504 shares of the basic materials company’s stock worth $9,837,000 after acquiring an additional 244,247 shares during the last quarter. OppenheimerFunds Inc. boosted its position in AK Steel by 13.4% during the 2nd quarter. OppenheimerFunds Inc. now owns 822,828 shares of the basic materials company’s stock worth $3,571,000 after acquiring an additional 97,088 shares during the last quarter. United Services Automobile Association boosted its position in AK Steel by 615.9% during the 2nd quarter. United Services Automobile Association now owns 344,674 shares of the basic materials company’s stock worth $101,827,000 after acquiring an additional 296,531 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in AK Steel by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,357,323 shares of the basic materials company’s stock worth $31,931,000 after acquiring an additional 460,313 shares during the last quarter. Finally, Virtu Financial LLC boosted its position in AK Steel by 358.7% during the 3rd quarter. Virtu Financial LLC now owns 248,088 shares of the basic materials company’s stock worth $1,216,000 after acquiring an additional 194,005 shares during the last quarter. 65.95% of the stock is owned by institutional investors and hedge funds.

Shares of AKS stock traded down $0.11 on Monday, reaching $2.84. The company had a trading volume of 9,513,422 shares, compared to its average volume of 9,346,201. The company has a debt-to-equity ratio of 4.65, a current ratio of 2.03 and a quick ratio of 0.77. The stock has a market cap of $930.85 million, a PE ratio of 9.16, a price-to-earnings-growth ratio of 0.98 and a beta of 2.71. AK Steel has a 12 month low of $2.82 and a 12 month high of $6.80.

AK Steel Company Profile

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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