4. AK Steel (AKS) is down 38% this year. The steel maker posted a third-quarter loss of $59 million, or 54 cents a share, after generating a profit a year earlier. Revenue soared 51% to $1.6 billion, but higher iron ore prices tore into income. A 12-day outage caused by blast furnace maintenance didn't help. Its cash balance has dropped 76% to $81 million since the year-earlier quarter. Its debt decreased 17% to $503 million.
Outlook: Analysts are skeptical of AK Steel shares. Of those tracking the company, two rate its stock "buy", 10 rate it "hold" and two rate it "sell." A median target of $13.80 suggests that AK Steel is just below fair value and has little room for advancement in the next year. Citigroup expects the stock rise 28% to $17. Goldman Sachs, on the other hand, predicts it will fall 10% to $12. With a price that's 28 times earnings projects, AK Steel is no bargain.