Brokerages Anticipate AK Steel Holding Corporation (AKS) to Announce $0.03 Earnings Per Share

Wall Street analysts forecast that AK Steel Holding Corporation (NYSE:AKS) will post earnings of $0.03 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for AK Steel Holding Corporation’s earnings, with the highest EPS estimate coming in at $0.06 and the lowest estimate coming in at ($0.04). AK Steel Holding Corporation reported earnings per share of $0.21 during the same quarter last year, which would indicate a negative year-over-year growth rate of 85.7%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, October 31st.

On average, analysts expect that AK Steel Holding Corporation will report full-year earnings of $0.46 per share for the current financial year, with EPS estimates ranging from $0.27 to $0.57. For the next financial year, analysts expect that the firm will report earnings of $0.86 per share, with EPS estimates ranging from $0.35 to $1.20. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover AK Steel Holding Corporation.

AK Steel Holding Corporation (NYSE:AKS) last posted its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.55 billion. AK Steel Holding Corporation had a net margin of 1.88% and a return on equity of 735.25%. AK Steel Holding Corporation’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 EPS.

A number of research analysts recently weighed in on the stock. Cowen and Company reaffirmed a “hold” rating and issued a $6.00 target price on shares of AK Steel Holding Corporation in a research report on Tuesday. Barclays PLC reaffirmed an “equal weight” rating and issued a $7.00 target price (down previously from $8.00) on shares of AK Steel Holding Corporation in a research report on Wednesday, August 9th. Clarkson Capital raised shares of AK Steel Holding Corporation from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 26th. ValuEngine raised shares of AK Steel Holding Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $7.00 target price on shares of AK Steel Holding Corporation in a research report on Thursday, October 5th. Ten equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. AK Steel Holding Corporation presently has an average rating of “Hold” and an average target price of $8.21.

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Hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP boosted its holdings in shares of AK Steel Holding Corporation by 56.9% during the 2nd quarter. First Trust Advisors LP now owns 377,889 shares of the basic materials company’s stock worth $2,483,000 after buying an additional 137,078 shares during the period. Cornerstone Financial Partners LLC bought a new stake in shares of AK Steel Holding Corporation during the 2nd quarter worth about $154,000. Vanguard Group Inc. boosted its holdings in shares of AK Steel Holding Corporation by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 37,074,630 shares of the basic materials company’s stock worth $266,566,000 after buying an additional 2,308,220 shares during the period. Royce & Associates LP boosted its holdings in shares of AK Steel Holding Corporation by 9.0% during the 2nd quarter. Royce & Associates LP now owns 1,841,109 shares of the basic materials company’s stock worth $12,096,000 after buying an additional 152,500 shares during the period. Finally, BW Gestao de Investimentos Ltda. bought a new stake in shares of AK Steel Holding Corporation during the 2nd quarter worth about $9,855,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Shares of AK Steel Holding Corporation (AKS) remained flat at $6.05 during midday trading on Friday. The company’s stock had a trading volume of 13,740,680 shares. The stock has a 50-day moving average price of $5.69 and a 200-day moving average price of $5.92. The company has a market cap of $1.90 billion, a P/E ratio of 15.84 and a beta of 2.91. AK Steel Holding Corporation has a one year low of $4.93 and a one year high of $11.39.

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

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