FY2020 EPS Estimates for AK Steel Holding Co. (AKS) Reduced by Jefferies Financial Group

AK Steel Holding Co. (NYSE:AKS) – Analysts at Jefferies Financial Group decreased their FY2020 earnings per share (EPS) estimates for shares of AK Steel in a research report issued on Monday, October 15th, according to Zacks Investment Research. Jefferies Financial Group analyst S. Rosenfeld now forecasts that the basic materials company will earn $0.34 per share for the year, down from their prior estimate of $0.49.

A number of other analysts have also recently commented on AKS. Morgan Stanley set a $5.00 price objective on AK Steel and gave the company a “buy” rating in a research report on Wednesday. Zacks Investment Research raised AK Steel from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research note on Tuesday, July 17th. ValuEngine lowered AK Steel from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 24th. Seaport Global Securities assumed coverage on AK Steel in a research note on Thursday, October 11th. They issued a “neutral” rating and a $5.00 price target on the stock. Finally, Bank of America raised AK Steel from an “underperform” rating to a “buy” rating and set a $6.00 price target on the stock in a research note on Friday, September 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $5.36.

AKS stock traded down $0.16 during trading on Wednesday, hitting $3.66. 12,478,726 shares of the company traded hands, compared to its average volume of 12,582,641. The stock has a market cap of $1.23 billion, a P/E ratio of 8.50, a P/E/G ratio of 1.33 and a beta of 2.85. AK Steel has a 1 year low of $3.42 and a 1 year high of $6.80. The company has a current ratio of 2.03, a quick ratio of 0.77 and a debt-to-equity ratio of 4.65.

AK Steel (NYSE:AKS) last announced its quarterly earnings data on Thursday, October 25th. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.82 billion. AK Steel had a return on equity of 45.52% and a net margin of 0.67%.

In other news, CEO Roger K. Newport bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The stock was purchased at an average cost of $4.03 per share, with a total value of $40,300.00. Following the transaction, the chief executive officer now directly owns 451,297 shares in the company, valued at $1,818,726.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.13% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its stake in shares of AK Steel by 106.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 22,076 shares of the basic materials company’s stock worth $100,000 after buying an additional 11,370 shares in the last quarter. BB&T Securities LLC purchased a new position in shares of AK Steel during the 1st quarter worth approximately $104,000. Centaurus Financial Inc. purchased a new position in shares of AK Steel during the 2nd quarter worth approximately $117,000. MML Investors Services LLC raised its stake in shares of AK Steel by 105.9% during the 3rd quarter. MML Investors Services LLC now owns 25,343 shares of the basic materials company’s stock worth $124,000 after buying an additional 13,037 shares in the last quarter. Finally, Truepoint Inc. raised its stake in shares of AK Steel by 21,958.8% during the 2nd quarter. Truepoint Inc. now owns 30,000 shares of the basic materials company’s stock worth $130,000 after buying an additional 29,864 shares in the last quarter. 64.85% of the stock is owned by institutional investors.

About AK Steel

AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, stainless, and electrical steels, and tubular 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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