AK Steel Holding Corporation (NYSE:AKS) sank as low as $2.87 Friday before getting settled at $2.92. The -6.71 percent decrease called for market cap to move at $987.6M. The price went up as high as $2.87 before retreating. Trading activity significantly improved as the volume at ready counter increased to 15,924,143 shares versus 12,480,085 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 12,204,971 shares. The stock is now 42.44% above against its bear-market low of $2.05 on December 26, 2018. It has retreated -110.27% since it’s 52-week high of $6.14 reached in February. Now the market price is down -36.52% on the year and up 29.78% YTD.
AKS’s 50 day simple moving average (SMA 50) price is $2.73 and its 200-day simple moving average (SMA 200) price is $4.03. The company’s stock currently has a total float of 312.48M shares. Its weekly volatility is hovering around 6.04% and felt 6.37% volatility in price over a month. On the upside, the share price will test short term resistance at around $3.07. On a downside, the stock is likely to find some support, which begins at $2.82. The failure to get near-term support could push it to $2.72.
Separately, it has been reported that multiple insider activity took place at AK Steel Holding Corporation (AKS). CEO Newport Roger K acquired 10,000 shares for $461,297 in transaction occurred on 2018/11/27. After making this transaction, the CEO owns a direct stake of 30,300 shares, worth $1,346,987, as per the last closing price. On 2018/08/15 Newport Roger K, CEO at AKS, purchased 10,000 shares at an average price of $4.03 per share. The new stake is valued at $1,317,787.
VP Gen Counsel & Corp Sec, Alter Joseph C had invested in 2,500 shares for $67,100 through a trade on 2018/08/15. Following this activity, the insider holds 10,250 shares worth $195,932 as of recent close. Wall Street’s most bullish AK Steel Holding Corporation (NYSE:AKS) analysts are predicting the share price to blow past $5 per share during the next 12 months. The current median share price forecast by them is $2.5, suggesting that the stock could increase -14.38% in that time frame. The average price target of $2.93 calls for a nearly 0.34% increase in the stock price.
It had seen a negative analyst call from Longbow, which downgraded the stock from Buy to Neutral on January 30. Analysts at BofA/Merrill, shed their positive views on January 30 by lowering it fromBuy to Underperform. The stock lost favor of Macquarie analysts who expressed their lack of confidence in it using a downgrade from Outperform to Neutral on January 29.
When looking at valuations, AK Steel Holding Corporation (AKS) has a cheap P/E of 5.07x as compared to industry average of 9.83x. Moreover, it trades for 5.92 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 9.42x price/book and 0.14x price/sales. Compared to others, AK Steel Holding Corporation is in a different league with regards to profitability, having net margins of -0.1%. To put some perspective around this, the industry’s average net margin is 2.16%. AKS’s ROE is -31.6%, which is also considerably worse than the industry’s ROE of 6.43%. It’s also very liquid in the near term, with a current ratio of 2. The stock has a debt/capital of 0.
Shares of AK Steel Holding Corporation (AKS) have gained 116.7% since the company’s last earnings report. Over the past 12 fiscal quarters, AK Steel Holding Corporation (NYSE:AKS) has topped consensus earnings estimates in 9 quarters (75%), missed earnings in 3 quarters (25%), whereas at 0 occasion EPS met analyst expectations. AKS last reported earnings on January 28, 2019 when it released Dec-18 results that exceeded expectations. The company raked in $0.16 per share, -99.62% change on the same period last year. That was better than consensus for $0.11. Revenue for the recent quarter stood at $1.68 billion, up 12% on last year and below the $1.7 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $1.64 billion to $1.82 billion, which should be compared with $1.65 billion generated last year. EPS is seen in a range of $0.1 to $0.19, against the $0.18 reported a year ago.