AK Steel (NYSE:AKS) issued an update on its FY19 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.51-0.57 for the period, compared to the Thomson Reuters consensus estimate of $0.64. AK Steel also updated its FY 2019 guidance to $0.51-0.57 EPS.
AKS stock opened at $2.98 on Thursday. The company has a current ratio of 1.95, a quick ratio of 0.69 and a debt-to-equity ratio of 4.64. The stock has a market cap of $940.32 million, a P/E ratio of 4.66, a P/E/G ratio of 1.04 and a beta of 2.73. AK Steel has a 52 week low of $2.05 and a 52 week high of $6.14.
AK Steel (NYSE:AKS) last announced its earnings results on Monday, January 28th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.70 billion. AK Steel had a net margin of 2.73% and a return on equity of 54.01%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.06) earnings per share. On average, equities analysts predict that AK Steel will post 0.56 earnings per share for the current year.
A number of equities analysts have recently weighed in on the stock. Longbow Research lowered shares of AK Steel from a buy rating to a neutral rating and set a $2.77 price objective for the company. in a research report on Wednesday, January 30th. Cowen began coverage on shares of AK Steel in a research report on Tuesday, January 8th. They set a market perform rating and a $2.50 price target for the company. Zacks Investment Research raised shares of AK Steel from a hold rating to a buy rating and set a $3.25 price target for the company in a research report on Tuesday. Macquarie lowered shares of AK Steel from an outperform rating to a neutral rating and set a $3.00 price target for the company. in a research report on Tuesday, January 29th. Finally, Morgan Stanley set a $5.00 price target on shares of AK Steel and gave the stock a buy rating in a research report on Wednesday, November 7th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. AK Steel presently has an average rating of Hold and a consensus target price of $3.76.
In other AK Steel news, CEO Roger K. Newport acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, November 27th. The stock was bought at an average cost of $3.03 per share, for a total transaction of $30,300.00. Following the completion of the purchase, the chief executive officer now directly owns 461,297 shares in the company, valued at $1,397,729.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.13% of the stock is owned by insiders.
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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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