Q2 2019 EPS Estimates for AK Steel Holding Co. Decreased by Analyst (AKS)
AK Steel Holding Co. (NYSE:AKS) – Equities researchers at KeyCorp dropped their Q2 2019 earnings estimates for shares of AK Steel in a note issued to investors on Tuesday, May 21st. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings per share of $0.03 for the quarter, down from their previous estimate of $0.04. KeyCorp also issued estimates for AK Steel’s FY2020 earnings at $0.09 EPS.
AK Steel (NYSE:AKS) last issued its quarterly earnings data on Monday, April 29th. The basic materials company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.10. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.75 billion. AK Steel had a net margin of 2.23% and a return on equity of 61.44%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 earnings per share.
Shares of AK Steel stock opened at $2.22 on Thursday. The stock has a market capitalization of $727.59 million, a price-to-earnings ratio of 3.47, a PEG ratio of 0.99 and a beta of 2.73. AK Steel has a fifty-two week low of $2.05 and a fifty-two week high of $5.40. The company has a debt-to-equity ratio of 4.74, a current ratio of 2.05 and a quick ratio of 0.78.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AKS. Bank of New York Mellon Corp raised its position in shares of AK Steel by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,794,568 shares of the basic materials company’s stock worth $18,593,000 after purchasing an additional 34,621 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of AK Steel by 62.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,833,600 shares of the basic materials company’s stock worth $48,184,000 after purchasing an additional 3,763,963 shares during the last quarter. Legal & General Group Plc raised its position in shares of AK Steel by 6.5% during the 3rd quarter. Legal & General Group Plc now owns 848,167 shares of the basic materials company’s stock worth $4,141,000 after purchasing an additional 52,107 shares during the last quarter. Vanguard Group Inc. raised its position in shares of AK Steel by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 32,062,343 shares of the basic materials company’s stock worth $157,105,000 after purchasing an additional 531,265 shares during the last quarter. Finally, FNY Investment Advisers LLC raised its position in shares of AK Steel by 817.1% during the 4th quarter. FNY Investment Advisers LLC now owns 65,988 shares of the basic materials company’s stock worth $148,000 after purchasing an additional 58,793 shares during the last quarter. 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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