National Steel (NYSE:SID) Posts Earnings Results, Hits Expectations

National Steel (NYSE:SID) announced its quarterly earnings data on Wednesday. The basic materials company reported ($0.12) EPS for the quarter, hitting analysts’ consensus estimates of ($0.12), FiscalAI reports. National Steel had a negative net margin of 3.92% and a negative return on equity of 10.69%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.13 billion.

National Steel Stock Up 2.8%

SID stock opened at $0.89 on Friday. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -3.72 and a beta of 1.57. National Steel has a twelve month low of $0.84 and a twelve month high of $2.20. The business has a 50 day moving average price of $1.02 and a two-hundred day moving average price of $1.30. The company has a quick ratio of 0.73, a current ratio of 1.11 and a debt-to-equity ratio of 2.60.

Institutional Trading of National Steel

An institutional investor recently raised its position in National Steel stock. HRT Financial LP raised its holdings in National Steel Company (NYSE:SID) by 175.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 564,262 shares of the basic materials company’s stock after buying an additional 359,335 shares during the period. HRT Financial LP’s holdings in National Steel were worth $902,000 at the end of the most recent quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of National Steel in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, National Steel currently has a consensus rating of “Sell” and an average target price of $1.40.

About National Steel

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates through five segments: Steel Industry, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as hot and cold rolled, galvanized, galvalume, pre-painted, and metal sheets products; coil, sheets, and derivatives; tiles and derivatives, pipes, and profiles; long steel products; steel packaging solutions for the food industry; chemical packaging solution; and carbochemical products.