AK Steel Holding Co. (NYSE:AKS) Expected to Announce Earnings of $0.08 Per Share

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Equities research analysts expect AK Steel Holding Co. (NYSE:AKS) to report $0.08 earnings per share for the current quarter, according to Zacks. Four analysts have made estimates for AK Steel’s earnings, with the highest EPS estimate coming in at $0.18 and the lowest estimate coming in at $0.01. AK Steel reported earnings per share of $0.21 during the same quarter last year, which suggests a negative year over year growth rate of 61.9%. The business is scheduled to issue its next quarterly earnings results on Thursday, October 24th.

According to Zacks, analysts expect that AK Steel will report full year earnings of $0.42 per share for the current financial year, with EPS estimates ranging from $0.37 to $0.52. For the next year, analysts expect that the company will post earnings of $0.23 per share, with EPS estimates ranging from ($0.05) to $0.46. Zacks’ earnings per share 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 data on Monday, July 29th. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.15. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.73 billion. AK Steel had a net margin of 2.40% and a return on equity of 57.52%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 earnings per share.

Several brokerages recently commented on AKS. Credit Suisse Group lowered shares of AK Steel from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $3.50 to $2.05 in a research report on Thursday, May 23rd. Deutsche Bank set a $2.00 price target on shares of AK Steel and gave the stock a “hold” rating in a research report on Thursday, May 30th. Cowen reaffirmed a “market perform” rating and set a $2.40 price target (up previously from $1.90) on shares of AK Steel in a research report on Wednesday, July 31st. Goldman Sachs Group dropped their price target on shares of AK Steel from $2.25 to $1.50 and set a “buy” rating for the company in a research report on Tuesday, June 4th. Finally, Citigroup set a $3.00 price target on shares of AK Steel and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $2.73.

A number of hedge funds have recently modified their holdings of AKS. Naples Global Advisors LLC acquired a new stake in shares of AK Steel in the second quarter worth $25,000. Convergence Investment Partners LLC acquired a new stake in shares of AK Steel in the first quarter worth $30,000. Janney Montgomery Scott LLC acquired a new stake in shares of AK Steel in the first quarter worth $33,000. Nomura Asset Management Co. Ltd. acquired a new stake in shares of AK Steel in the first quarter worth $42,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of AK Steel in the first quarter worth $45,000. 60.63% of the stock is owned by hedge funds and other institutional investors.

Shares of AKS opened at $2.53 on Friday. The company has a quick ratio of 0.76, a current ratio of 2.02 and a debt-to-equity ratio of 4.54. The stock has a market capitalization of $771.98 million, a P/E ratio of 3.95, a price-to-earnings-growth ratio of 1.15 and a beta of 3.07. The firm’s 50 day moving average price is $2.40. AK Steel has a 1 year low of $1.66 and a 1 year high of $5.11.

About AK Steel

AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, and stainless and electrical steel 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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