National Steel (NYSE:SID) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of National Steel (NYSE:SID) from a hold rating to a strong sell rating in a report issued on Thursday morning,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of National Steel in a research report on Wednesday, June 17th. Three equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, National Steel has an average rating of “Strong Sell” and a consensus target price of $1.40.

National Steel Trading Down 1.6%

Shares of SID stock opened at $0.89 on Thursday. The company has a quick ratio of 0.73, a current ratio of 1.11 and a debt-to-equity ratio of 2.60. The business has a 50-day moving average price of $1.01 and a two-hundred day moving average price of $1.29. National Steel has a 12-month low of $0.84 and a 12-month high of $2.20. The firm has a market cap of $1.17 billion, a P/E ratio of -2.60 and a beta of 1.57.

National Steel (NYSE:SID) last posted its quarterly earnings data on Wednesday, August 12th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.12). The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.13 billion. National Steel had a negative return on equity of 14.91% and a negative net margin of 5.26%. Equities analysts anticipate that National Steel will post 0.11 EPS for the current fiscal year.

Institutional Trading of National Steel

A hedge fund recently raised its position in National Steel stock. HRT Financial LP raised its holdings in shares of National Steel Company (NYSE:SID) by 175.3% in the 4th quarter, according to the company in 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 reporting period.

National Steel Company Profile

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.