AK Steel Holding Corporation (AKS), the producer of flat-rolled carbon, stainless and electrical steel products could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AKS’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames, suggesting that AK Steel could be a solid choice for investors.
Current Quarter Estimates for AKS
In the past 30 days, 7 estimates have gone higher for AK Steel while there is no downward estimates revision in the same time period. The trend has been pretty favorable too, with estimates increasing from 17 cents a share 30 days ago, to 23 today, a move of 35.3%.
Current Year Estimates for AKS
Meanwhile, AK Steel’s current year figures are also looking quite promising, with 6 estimates moved higher in the past month. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 1 cent 30 days ago to a gain of 8 cents today, increased significantly.
Bottom Line
The stock has also started to move higher lately, adding 20.7% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.
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