During the most recent trading day, the stock’s price shifted up +276.83% from its 52-week low and -0.32% lower from its 52-week high.
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The Steel production company stated the core reason behind its lower revenue is lower automotive contract pricing and lower shipments. The firm has a SMA 50 (Simple Moving Average) of $18.23 and a SMA 200-(Simple Moving Average) of $14.22. “1” brokerage firms have rated the company as a “Hold”.
The steel maker posted revenue of $2.58 billion in the period. The firm’s revenue for the quarter was down 10.9% compared to the same quarter previous year. The company’s adjusted EBITDA (as defined in the “Non-GAAP Financial Measures” section below) of $99.3 million, or 6.7% of net sales, for the second quarter of 2016 more than doubled from adjusted EBITDA of $47.6 million, or 2.8% of net sales, for the year ago second quarter. The average forecast of sales for the year ending Dec 16 is $10.57B by 14 analysts. The stock’s institutional ownership stands at 44.00%. BlackRock Inc. raised its position in shares of AK Steel Holding Corp.by 61.5% in the first quarter. The company has the institutional ownership of 89.80% while the Beta factor was 1.77.
AK Steel reported net income of $17.3 million, or $0.08 per diluted share of common stock, for the second quarter of 2016, compared to a net loss of $64.0 million, or $0.36 per diluted share, for the second quarter of 2015. However, the stock has corrected -2.4% in the past 1 week, providing a good buying opportunity on dips. The stock was upgraded to Outperform from Underperform, wrote analysts at Credit Suisse, in a note issued to clients on Wednesday June 08, 2016.
AK Steel Holding Corporation’s (AKS) has price-to-cash ratio of 11.20 and price to sale ratio of 0.20. The beat is sending its shares higher by 3.1% to levels not seen since last July. Analysts polled by Thomson Reuters had projected a loss excluding items of 49 cents a share.
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Analysts projected the maximum potential price target of $59 however minimum reachable price target is $35 expected by them, according to WSJ data. These operations produce flat-rolled carbon, specialty stainless and electrical steels that it sells in sheet and strip form, and carbon and stainless steel that it finishes into welded steel tubing. The Company operates approximately eight steelmaking and finishing plants, over two coke plants and approximately two tube manufacturing plants across states, which include Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.
