AK Steel Holding Co. (NYSE:AKS) – Analysts at Jefferies Group upped their Q2 2018 earnings per share (EPS) estimates for shares of AK Steel in a research note issued on Friday, April 6th. Jefferies Group analyst S. Rosenfeld now expects that the basic materials company will post earnings of $0.33 per share for the quarter, up from their prior forecast of $0.29. Jefferies Group has a “Hold” rating and a $6.00 price objective on the stock.
AKS has been the topic of several other research reports. Zacks Investment Research raised AK Steel from a “hold” rating to a “buy” rating and set a $7.50 target price on the stock in a research report on Monday, January 8th. Cowen reissued a “hold” rating and set a $7.00 target price on shares of AK Steel in a research report on Thursday, January 4th. Vetr downgraded AK Steel from a “strong-buy” rating to a “buy” rating and set a $6.34 target price on the stock. in a research report on Thursday, March 8th. Longbow Research raised AK Steel from a “neutral” rating to a “buy” rating and boosted their target price for the company from $5.53 to $7.00 in a research report on Wednesday, December 20th. Finally, ValuEngine downgraded AK Steel from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $6.65.
AK Steel (NYSE:AKS) last released its earnings results on Tuesday, January 30th. The basic materials company reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.07. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. AK Steel had a return on equity of 71.24% and a net margin of 0.16%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.
Several institutional investors and hedge funds have recently bought and sold shares of AKS. Crow Point Partners LLC bought a new position in shares of AK Steel during the 4th quarter worth $110,000. Delpha Capital Management LLC bought a new position in shares of AK Steel during the 4th quarter worth $123,000. Hourglass Capital LLC bought a new position in shares of AK Steel during the 4th quarter worth $133,000. Oppenheimer & Co. Inc. bought a new position in shares of AK Steel during the 4th quarter worth $155,000. Finally, Granite Springs Asset Management LLC bought a new position in shares of AK Steel during the 4th quarter worth $174,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.
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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