Dahlman Rose Downgrades AK Steel (AKS) to Hold; Reducing 2012 Steel Estimates

June 11, 2012 7:19 AM EDT Send to a Friend
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Price: $7.04 -2.09%

Rating Summary:
    8 Buy, 9 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
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Dahlman Rose downgraded AK Steel (NYSE: AKS) from Buy to Hold.

Analyst, Anthony B. Rizzuto, said, "We are reducing our 2012 estimates for steel and service center companies due to recent steel price declines and our expectations for continued weakness. We are downgrading AK Steel to Hold to reflect additional balance sheet risk and potential cash flow concerns should current conditions persist...We anticipate that AK will provide 2Q12 guidance around June 15, and we are currently estimating 2Q12 EPS of $0.05 compared to consensus of $0.14."

For an analyst ratings summary and ratings history on AK Steel click here. For more ratings news on AK Steel click here.

Shares of AK Steel closed at $6.01 yesterday.


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