Equities analysts expect AK Steel Holding (NYSE:AKS) to announce sales of $1.73 billion for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for AK Steel’s earnings. The highest sales estimate is $1.78 billion and the lowest is $1.63 billion. AK Steel reported sales of $1.56 billion during the same quarter last year, which indicates a positive year over year growth rate of 10.9%. The company is scheduled to announce its next quarterly earnings results on Tuesday, July 24th.

According to Zacks, analysts expect that AK Steel will report full year sales of $6.75 billion for the current fiscal year, with estimates ranging from $6.61 billion to $6.96 billion. For the next financial year, analysts forecast that the business will post sales of $7.02 billion per share, with estimates ranging from $6.78 billion to $7.27 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow AK Steel.

AK Steel (NYSE:AKS) last released its earnings results on Monday, April 30th. The basic materials company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.06. AK Steel had a negative net margin of 0.38% and a positive return on equity of 37.76%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the firm earned $0.19 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year.

AKS has been the topic of a number of recent research reports. Vetr lowered shares of AK Steel from a “strong-buy” rating to a “buy” rating and set a $6.34 target price on the stock. in a research note on Thursday, March 8th. Zacks Investment Research lowered shares of AK Steel from a “hold” rating to a “sell” rating in a research note on Tuesday, March 13th. ValuEngine upgraded shares of AK Steel from a “sell” rating to a “hold” rating in a research note on Wednesday, March 14th. Goldman Sachs Group initiated coverage on shares of AK Steel in a research note on Tuesday, March 20th. They issued a “neutral” rating and a $6.00 price target on the stock. Finally, Morgan Stanley dropped their price target on shares of AK Steel from $6.50 to $6.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 17th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $6.04.

AKS stock opened at $4.52 on Friday. The company has a debt-to-equity ratio of 6.34, a quick ratio of 0.76 and a current ratio of 2.09. AK Steel has a fifty-two week low of $4.00 and a fifty-two week high of $7.04. The company has a market cap of $1.39 billion, a P/E ratio of 14.58, a PEG ratio of 1.31 and a beta of 2.89.

In other news, Chairman James A. Thomson sold 10,270 shares of the stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $4.45, for a total value of $45,701.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.13% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Polar Asset Management Partners Inc. acquired a new stake in shares of AK Steel in the first quarter valued at approximately $6,771,000. Principal Financial Group Inc. boosted its holdings in shares of AK Steel by 2.4% in the first quarter. Principal Financial Group Inc. now owns 2,446,168 shares of the basic materials company’s stock valued at $11,081,000 after acquiring an additional 57,228 shares during the period. Highbridge Capital Management LLC boosted its holdings in shares of AK Steel by 77.2% in the first quarter. Highbridge Capital Management LLC now owns 502,647 shares of the basic materials company’s stock valued at $2,277,000 after acquiring an additional 219,000 shares during the period. LPL Financial LLC boosted its holdings in shares of AK Steel by 21.8% in the first quarter. LPL Financial LLC now owns 99,289 shares of the basic materials company’s stock valued at $450,000 after acquiring an additional 17,739 shares during the period. Finally, MetLife Investment Advisors LLC boosted its holdings in shares of AK Steel by 11.7% in the first quarter. MetLife Investment Advisors LLC now owns 143,725 shares of the basic materials company’s stock valued at $651,000 after acquiring an additional 15,052 shares during the period. 63.73% of the stock is owned by institutional investors and hedge funds.

AK Steel Company Profile

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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Earnings History and Estimates for AK Steel (NYSE:AKS)

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