AK Steel (NYSE:AKS) Research Coverage Started at Exane BNP Paribas

Exane BNP Paribas began coverage on shares of AK Steel (NYSE:AKS) in a research report sent to investors on Thursday, The Fly reports. The firm issued an underperform rating and a $2.00 price target on the basic materials company’s stock.

A number of other equities research analysts have also recently weighed in on the company. BMO Capital Markets set a $3.00 price target on AK Steel and gave the stock a hold rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. cut AK Steel from an overweight rating to an underweight rating in a report on Monday, September 23rd. UBS Group restated a sell rating and issued a $2.00 price target (down previously from $2.25) on shares of AK Steel in a report on Thursday. Citigroup set a $3.00 price target on AK Steel and gave the stock a hold rating in a report on Wednesday, July 31st. Finally, ValuEngine upgraded AK Steel from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. Six research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. AK Steel currently has an average rating of Hold and a consensus target price of $2.44.

NYSE AKS traded up $0.02 on Thursday, hitting $2.55. 4,516,457 shares of the company’s stock were exchanged, compared to its average volume of 8,637,414. The company has a debt-to-equity ratio of 4.77, a current ratio of 2.06 and a quick ratio of 0.70. The firm’s 50-day moving average price is $2.47 and its two-hundred day moving average price is $2.35. AK Steel has a fifty-two week low of $1.66 and a fifty-two week high of $3.84. The firm has a market cap of $800.54 million, a price-to-earnings ratio of 4.15, a P/E/G ratio of 1.41 and a beta of 3.04.

AK Steel (NYSE:AKS) last released its earnings results on Wednesday, October 30th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.03). AK Steel had a return on equity of 42.48% and a net margin of 1.50%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the firm posted $0.21 EPS. The business’s revenue for the quarter was down 11.5% on a year-over-year basis. On average, research analysts predict that AK Steel will post 0.36 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in AK Steel by 1.2% in the 2nd quarter. BlackRock Inc. now owns 46,654,485 shares of the basic materials company’s stock valued at $110,570,000 after buying an additional 567,604 shares in the last quarter. Merriman Wealth Management LLC lifted its stake in AK Steel by 5.0% in the 2nd quarter. Merriman Wealth Management LLC now owns 4,208,800 shares of the basic materials company’s stock valued at $9,975,000 after buying an additional 200,000 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in AK Steel by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,987,933 shares of the basic materials company’s stock valued at $9,452,000 after buying an additional 39,944 shares in the last quarter. Northern Trust Corp lifted its stake in AK Steel by 4.0% in the 2nd quarter. Northern Trust Corp now owns 3,966,860 shares of the basic materials company’s stock valued at $9,401,000 after buying an additional 150,846 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in AK Steel by 12.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,484,151 shares of the basic materials company’s stock valued at $8,258,000 after buying an additional 394,546 shares in the last quarter. 56.79% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for AK Steel (NYSE:AKS)

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