Wall Street brokerages forecast that AK Steel Holding Co. (NYSE:AKS) will announce sales of $1.51 billion for the current quarter, according to Zacks. Two analysts have provided estimates for AK Steel’s earnings. The lowest sales estimate is $1.43 billion and the highest is $1.59 billion. AK Steel reported sales of $1.53 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.3%. The company is scheduled to report its next quarterly earnings report on Tuesday, April 24th.
On average, analysts expect that AK Steel will report full year sales of $1.51 billion for the current financial year, with estimates ranging from $6.29 billion to $6.68 billion. For the next fiscal year, analysts anticipate that the company will report sales of $6.71 billion per share, with estimates ranging from $6.56 billion to $6.80 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for AK Steel.
AK Steel (NYSE:AKS) last posted its quarterly earnings data on Tuesday, January 30th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.07. The firm had revenue of $1.50 billion during 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 71.24%. The business’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 firm posted $0.25 EPS.
A number of brokerages have recently weighed in on AKS. raised shares of AK Steel from a “neutral” rating to an “outperform” rating in a report on Tuesday, November 21st. Jefferies Group reaffirmed a “hold” rating and set a $6.00 price target on shares of AK Steel in a report on Tuesday, January 30th. Zacks Investment Research raised shares of AK Steel from a “sell” rating to a “hold” rating in a report on Wednesday, November 22nd. Morgan Stanley cut their price target on shares of AK Steel from $7.00 to $6.50 and set an “equal weight” rating for the company in a report on Wednesday, January 31st. Finally, Cowen reaffirmed a “hold” rating and set a $5.50 price target on shares of AK Steel in a report on Wednesday, January 31st. One equities 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 stock. The stock has an average rating of “Hold” and an average price target of $6.88.
Shares of AK Steel (NYSE AKS) opened at $5.62 on Wednesday. AK Steel has a twelve month low of $4.00 and a twelve month high of $8.65. The company has a current ratio of 1.83, a quick ratio of 0.69 and a debt-to-equity ratio of 16.33. The firm has a market cap of $1,759.28, a P/E ratio of 281.14, a PEG ratio of 2.08 and a beta of 2.74.
Hedge funds have recently added to or reduced their stakes in the stock. Crow Point Partners LLC acquired a new position in AK Steel during the 4th quarter worth approximately $110,000. Delpha Capital Management LLC acquired a new position in AK Steel during the 4th quarter worth approximately $123,000. Hourglass Capital LLC acquired a new position in AK Steel during the 4th quarter worth approximately $133,000. Raymond James Financial Services Advisors Inc. increased its position in AK Steel by 0.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 21,887 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 193 shares in the last quarter. Finally, IPG Investment Advisors LLC acquired a new position in AK Steel during the 3rd quarter worth approximately $145,000. Institutional investors and hedge funds own 67.23% of the company’s stock.
About AK Steel
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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