KeyCorp Weighs in on AK Steel Holding Co.’s Q1 2018 Earnings (NYSE:AKS)

AK Steel Holding Co. (NYSE:AKS) – Stock analysts at KeyCorp issued their Q1 2018 earnings per share estimates for shares of AK Steel in a report issued on Tuesday, Zacks Investment Research reports. KeyCorp analyst P. Gibbs expects that the basic materials company will earn $0.01 per share for the quarter. KeyCorp also issued estimates for AK Steel’s FY2018 earnings at $0.50 EPS.

AKS has been the topic of several other research reports. Credit Suisse Group raised shares of AK Steel from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $6.00 to $7.00 in a research note on Tuesday, November 21st. Jefferies Group reissued a “buy” rating on shares of AK Steel in a research note on Friday, November 10th. BMO Capital Markets reduced their price objective on shares of AK Steel from $7.00 to $5.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 1st. JPMorgan Chase & Co. raised shares of AK Steel from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $6.00 to $7.00 in a research note on Thursday, December 7th. Finally, Clarkson Capital downgraded shares of AK Steel from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $6.88.

Shares of AK Steel (NYSE AKS) traded down $0.06 on Friday, hitting $4.50. 21,309,445 shares of the company traded hands, compared to its average volume of 22,700,000. The company has a quick ratio of 0.69, a current ratio of 1.83 and a debt-to-equity ratio of 15.72. The stock has a market capitalization of $1,420.00, a P/E ratio of 225.00, a price-to-earnings-growth ratio of 1.69 and a beta of 2.87. AK Steel has a fifty-two week low of $4.00 and a fifty-two week high of $9.19.

AK Steel (NYSE:AKS) last announced its quarterly earnings data on Tuesday, January 30th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.07. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. AK Steel had a net margin of 0.16% and a return on equity of 70.67%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share.

Several institutional investors have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D acquired a new stake in shares of AK Steel in the third quarter worth $81,614,000. Dimensional Fund Advisors LP increased its position in shares of AK Steel by 14.3% in the second quarter. Dimensional Fund Advisors LP now owns 6,162,355 shares of the basic materials company’s stock worth $40,489,000 after acquiring an additional 772,725 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of AK Steel by 10.8% in the third quarter. Ameriprise Financial Inc. now owns 4,165,221 shares of the basic materials company’s stock worth $23,284,000 after acquiring an additional 404,540 shares in the last quarter. Northern Trust Corp increased its position in shares of AK Steel by 3.6% in the second quarter. Northern Trust Corp now owns 3,829,715 shares of the basic materials company’s stock worth $25,160,000 after acquiring an additional 132,062 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of AK Steel by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 3,812,298 shares of the basic materials company’s stock worth $21,578,000 after acquiring an additional 196,405 shares in the last quarter. 65.40% of the stock is owned by institutional investors.

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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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