AK Steel (AKS) Poised On Strategic Actions Amid Headwinds
Zacks Investment Research | Oct 09, 2017 09:02PM ET
On Oct 9, we issued an updated research report on steel producer AK Steel Holding Corporation (NYSE:AKS) .
AK Steel delivered strong second-quarter 2017 results, reflecting continued benefits obtained through strategic initiatives implemented over the past one-and-a-half year.
AK Steel, during second-quarter 2017 earnings call, declared that it expects shipments in the third quarter to be relatively flat compared to the second as higher shipments of the carbon distributing and converting market are expected to be offset by lower automotive shipments. Average selling price in the third quarter is expected to be modestly lower than the second. The expected decline assumes a change in the mix of shipments related to an anticipated reduction in automotive shipments and decline in raw material surcharges.
Price Performance
Shares of AK Steel have declined 12.7% in the last three months, underperforming the Original post
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