AK Steel Holding Co. (NYSE:AKS) Receives Average Recommendation of “Hold” from Brokerages

AK Steel Holding Co. (NYSE:AKS) has been assigned a consensus rating of “Hold” from the fifteen brokerages that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $2.68.

Several analysts have recently weighed in on the company. Citigroup set a $3.00 price objective on AK Steel and gave the stock a “hold” rating in a report on Wednesday, July 31st. Goldman Sachs Group decreased their price objective on shares of AK Steel from $2.25 to $1.50 and set a “buy” rating on the stock in a report on Tuesday, June 4th. BMO Capital Markets set a $3.00 price objective on shares of AK Steel and gave the company a “hold” rating in a report on Wednesday, July 31st. Credit Suisse Group downgraded shares of AK Steel from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $3.50 to $2.05 in a report on Thursday, May 23rd. Finally, Deutsche Bank set a $2.00 price objective on shares of AK Steel and gave the company a “hold” rating in a report on Thursday, May 30th.

Shares of NYSE AKS traded up $0.10 during trading on Wednesday, hitting $2.39. 304,280 shares of the company were exchanged, compared to its average volume of 11,031,202. The company has a market cap of $708.70 million, a price-to-earnings ratio of 3.73, a PEG ratio of 1.06 and a beta of 3.07. AK Steel has a 1 year low of $1.66 and a 1 year high of $5.11. The firm’s fifty day moving average price is $2.40 and its 200 day moving average price is $2.52. The company has a debt-to-equity ratio of 4.54, a current ratio of 2.02 and a quick ratio of 0.76.

AK Steel (NYSE:AKS) last announced its earnings results on Monday, July 29th. The basic materials company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.15. AK Steel had a return on equity of 57.52% and a net margin of 2.40%. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the business posted $0.18 earnings per share. The company’s quarterly revenue was down 3.8% on a year-over-year basis. On average, research analysts forecast that AK Steel will post 0.42 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of AKS. Naples Global Advisors LLC bought a new position in shares of AK Steel in the 2nd quarter valued at $25,000. Convergence Investment Partners LLC bought a new position in AK Steel in the 1st quarter worth about $30,000. Janney Montgomery Scott LLC bought a new position in AK Steel in the 1st quarter worth about $33,000. Nomura Asset Management Co. Ltd. bought a new position in AK Steel in the 1st quarter worth about $42,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in AK Steel in the 1st quarter worth about $45,000. Institutional investors and hedge funds own 61.84% of the company’s stock.

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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Analyst Recommendations for AK Steel (NYSE:AKS)

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