Research Analysts Set Expectations for AK Steel Holding Co.’s Q2 2019 Earnings (AKS)

AK Steel Holding Co. (NYSE:AKS) – Investment analysts at KeyCorp lowered their Q2 2019 earnings estimates for shares of AK Steel in a research note issued on Tuesday, May 21st. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings of $0.03 per share for the quarter, down from their prior estimate of $0.04. KeyCorp also issued estimates for AK Steel’s FY2020 earnings at $0.09 EPS.

Other research analysts have also issued research reports about the company. Credit Suisse Group lowered AK Steel from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $3.50 to $2.05 in a report on Thursday. Longbow Research lowered AK Steel from a “buy” rating to a “neutral” rating and set a $2.77 price objective on the stock. in a report on Wednesday, January 30th. Zacks Investment Research raised AK Steel from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a report on Tuesday, February 12th. Macquarie lowered AK Steel from an “outperform” rating to a “neutral” rating and set a $3.00 price objective on the stock. in a report on Tuesday, January 29th. Finally, TheStreet raised AK Steel from a “d+” rating to a “c-” rating in a report on Thursday, February 21st. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. AK Steel has an average rating of “Hold” and a consensus target price of $3.04.

Shares of NYSE AKS opened at $2.14 on Thursday. The company has a current ratio of 2.05, a quick ratio of 0.78 and a debt-to-equity ratio of 4.74. The stock has a market cap of $727.59 million, a PE ratio of 3.34, a P/E/G ratio of 0.99 and a beta of 2.73. AK Steel has a 52 week low of $2.03 and a 52 week high of $5.40.

AK Steel (NYSE:AKS) last issued its earnings results on Monday, April 29th. The basic materials company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.10. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.75 billion. AK Steel had a return on equity of 61.44% and a net margin of 2.23%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 EPS.

A number of large investors have recently made changes to their positions in the stock. Maverick Capital Ltd. bought a new stake in AK Steel during the 1st quarter valued at approximately $4,835,000. MetLife Investment Advisors LLC boosted its stake in AK Steel by 32.2% during the 1st quarter. MetLife Investment Advisors LLC now owns 140,543 shares of the basic materials company’s stock valued at $386,000 after purchasing an additional 34,211 shares during the period. SEI Investments Co boosted its stake in AK Steel by 160.5% during the 1st quarter. SEI Investments Co now owns 27,130 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 16,717 shares during the period. Goldman Sachs Group Inc. boosted its stake in AK Steel by 50.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,906,920 shares of the basic materials company’s stock valued at $10,744,000 after purchasing an additional 1,306,894 shares during the period. Finally, Geode Capital Management LLC boosted its stake in AK Steel by 8.3% during the 1st quarter. Geode Capital Management LLC now owns 3,519,261 shares of the basic materials company’s stock valued at $9,677,000 after purchasing an additional 268,724 shares during the period. Hedge funds and other institutional investors own 60.74% 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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Earnings History and Estimates for AK Steel (NYSE:AKS)

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