Brokerages Anticipate AK Steel Holding Co. (AKS) to Announce $0.14 EPS

Analysts forecast that AK Steel Holding Co. (NYSE:AKS) will post $0.14 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for AK Steel Holding’s earnings, with estimates ranging from $0.07 to $0.23. AK Steel Holding posted earnings per share of ($0.08) during the same quarter last year, which suggests a positive year-over-year growth rate of 275%. The business is expected to report its next earnings results before the market opens on Tuesday, April 25th.

On average, analysts expect that AK Steel Holding will report full year earnings of $0.66 per share for the current financial year, with EPS estimates ranging from $0.43 to $1.10. For the next year, analysts anticipate that the business will post earnings of $1.01 per share, with EPS estimates ranging from $0.67 to $1.55. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover AK Steel Holding.

AK Steel Holding (NYSE:AKS) last released its quarterly earnings data on Tuesday, January 24th. The basic materials company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.18. AK Steel Holding had a negative net margin of 0.13% and a negative return on equity of 47.34%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the company earned $0.30 earnings per share. The company’s quarterly revenue was down 8.0% on a year-over-year basis.

A number of research analysts have weighed in on AKS shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $11.50 target price on shares of AK Steel Holding in a report on Wednesday, January 25th. Vetr raised AK Steel Holding from a “hold” rating to a “buy” rating and set a $8.17 price objective for the company in a report on Wednesday, February 1st. JPMorgan Chase & Co. lowered AK Steel Holding from an “overweight” rating to a “neutral” rating and set a $8.00 price objective for the company. in a report on Wednesday, January 25th. Citigroup Inc lowered AK Steel Holding from a “neutral” rating to a “sell” rating and set a $8.00 price objective for the company. in a report on Thursday, January 19th. Finally, Credit Suisse Group AG lowered AK Steel Holding from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $8.00 to $9.50 in a report on Thursday, January 12th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $8.22.

Institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its position in shares of AK Steel Holding by 8.7% in the third quarter. BlackRock Fund Advisors now owns 16,604,292 shares of the basic materials company’s stock worth $80,199,000 after buying an additional 1,323,068 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of AK Steel Holding by 6.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 6,341,476 shares of the basic materials company’s stock worth $30,629,000 after buying an additional 405,746 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of AK Steel Holding by 395.7% in the third quarter. JPMorgan Chase & Co. now owns 5,307,865 shares of the basic materials company’s stock worth $25,637,000 after buying an additional 4,237,133 shares in the last quarter. Teachers Advisors LLC increased its position in shares of AK Steel Holding by 172.4% in the fourth quarter. Teachers Advisors LLC now owns 4,963,762 shares of the basic materials company’s stock worth $50,680,000 after buying an additional 3,141,703 shares in the last quarter. Finally, FMR LLC acquired a new position in shares of AK Steel Holding during the fourth quarter worth approximately $49,391,000. Institutional investors own 62.21% of the company’s stock.

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AK Steel Holding (NYSE:AKS) traded down 1.47% during trading on Tuesday, hitting $6.72. 19,202,512 shares of the company’s stock traded hands. The company’s 50 day moving average price is $7.40 and its 200 day moving average price is $7.96. AK Steel Holding has a 52-week low of $3.31 and a 52-week high of $11.39. The company’s market cap is $2.12 billion.

About AK Steel Holding

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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