Zacks: Analysts Anticipate AK Steel Holding Co. (NYSE:AKS) Will Announce Quarterly Sales of $1.48 Billion

Equities research analysts expect AK Steel Holding Co. (NYSE:AKS) to post sales of $1.48 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for AK Steel’s earnings. The highest sales estimate is $1.49 billion and the lowest is $1.47 billion. AK Steel posted sales of $1.68 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 11.9%. The firm is scheduled to announce its next earnings report before the market opens on Thursday, February 20th.

On average, analysts expect that AK Steel will report full year sales of $6.39 billion for the current year, with estimates ranging from $6.38 billion to $6.40 billion. For the next financial year, analysts anticipate that the business will report sales of $6.32 billion, with estimates ranging from $5.92 billion to $6.59 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover AK Steel.

Several research analysts have recently commented on AKS shares. JPMorgan Chase & Co. upgraded AK Steel to a “hold” rating in a research note on Thursday, December 19th. UBS Group upgraded AK Steel from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $2.00 to $3.50 in a research note on Wednesday, December 11th. ValuEngine upgraded AK Steel from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 28th. Finally, Exane BNP Paribas started coverage on AK Steel in a research note on Thursday, November 14th. They set an “underperform” rating and a $2.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. AK Steel currently has a consensus rating of “Hold” and an average price target of $2.38.

Shares of NYSE:AKS traded down $0.10 during trading on Tuesday, hitting $2.94. 10,534,821 shares of the company were exchanged, compared to its average volume of 6,464,349. The stock has a market cap of $958.65 million, a price-to-earnings ratio of 9.19 and a beta of 3.06. AK Steel has a fifty-two week low of $1.66 and a fifty-two week high of $3.59. The firm has a fifty day moving average price of $3.03 and a two-hundred day moving average price of $2.71. The company has a current ratio of 2.06, a quick ratio of 0.70 and a debt-to-equity ratio of 4.77.

Several hedge funds and other institutional investors have recently modified their holdings of AKS. Renaissance Technologies LLC boosted its stake in shares of AK Steel by 60.8% during the 4th quarter. Renaissance Technologies LLC now owns 8,105,171 shares of the basic materials company’s stock worth $26,666,000 after acquiring an additional 3,065,600 shares during the period. UBS Group AG boosted its stake in AK Steel by 394.4% in the 4th quarter. UBS Group AG now owns 2,160,344 shares of the basic materials company’s stock valued at $7,108,000 after purchasing an additional 1,723,369 shares during the period. Morgan Stanley boosted its stake in AK Steel by 125.4% in the 2nd quarter. Morgan Stanley now owns 2,431,379 shares of the basic materials company’s stock valued at $5,763,000 after purchasing an additional 1,352,519 shares during the period. State Street Corp boosted its stake in AK Steel by 6.3% in the 4th quarter. State Street Corp now owns 17,236,219 shares of the basic materials company’s stock valued at $56,707,000 after purchasing an additional 1,023,486 shares during the period. Finally, CNH Partners LLC bought a new stake in AK Steel in the 4th quarter valued at $3,005,000. Institutional investors own 59.30% of the company’s stock.

AK Steel Company Profile

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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