AK Steel (NYSE:AKS) Posts Earnings Results, Beats Estimates By $0.15 EPS
AK Steel (NYSE:AKS) announced its quarterly earnings results on Monday. The basic materials company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.15, RTT News reports. AK Steel had a return on equity of 61.44% and a net margin of 2.23%. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the business posted $0.18 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. AK Steel updated its FY 2019 guidance to $0.37-0.44 EPS and its FY19 guidance to $0.37-0.44 EPS.
NYSE:AKS traded up $0.06 during mid-day trading on Monday, reaching $2.54. The company’s stock had a trading volume of 8,091,500 shares, compared to its average volume of 8,797,117. The stock’s fifty day moving average price is $2.25. The company has a debt-to-equity ratio of 5.25, a quick ratio of 0.78 and a current ratio of 2.05. AK Steel has a twelve month low of $1.66 and a twelve month high of $5.38. The company has a market cap of $786.11 million, a PE ratio of 3.97, a P/E/G ratio of 1.57 and a beta of 2.99.
AKS has been the subject of a number of research analyst reports. Bank of America set a $77.00 price target on Zscaler and gave the company a “neutral” rating in a research report on Friday, May 31st. Credit Suisse Group upgraded Vipshop from an “underperform” rating to a “neutral” rating in a research report on Thursday, May 23rd. Deutsche Bank set a $18.00 price target on Commercial Metals and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, Goldman Sachs Group upgraded to a “buy” rating and set a GBX 1,180 ($15.42) price target for the company in a research report on Tuesday, June 4th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $2.69.
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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