National Steel (NYSE:SID) Stock Price Down 5.5% – What’s Next?

National Steel Company (NYSE:SID)’s stock price fell 5.5% during mid-day trading on Friday . The stock traded as low as $1.11 and last traded at $1.1150. 4,665,147 shares changed hands during trading, a decline of 4% from the average daily volume of 4,834,925 shares. The stock had previously closed at $1.18.

Wall Street Analyst Weigh In

SID has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of National Steel in a report on Monday. Zacks Research cut shares of National Steel from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen lowered National Steel from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Three investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat, National Steel presently has a consensus rating of “Strong Sell” and an average target price of $1.40.

National Steel Stock Down 4.7%

The company has a 50-day simple moving average of $1.05 and a 200 day simple moving average of $1.17. The company has a market cap of $1.49 billion, a P/E ratio of -3.31 and a beta of 1.61. The company has a current ratio of 1.15, a quick ratio of 0.79 and a debt-to-equity ratio of 2.96.

National Steel (NYSE:SID) last released its earnings results on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share for the quarter, hitting the consensus estimate of ($0.12). The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.13 billion. National Steel had a negative return on equity of 14.90% and a negative net margin of 5.26%. On average, equities analysts anticipate that National Steel Company will post 0.05 EPS for the current year.

National Steel Company Profile

Companhia Siderúrgica Nacional (CSN), historically associated with the “National Steel” name and traded in the United States under the symbol SID, is a Brazilian industrial company headquartered in São Paulo. Founded in 1941, CSN operates one of Brazil’s major integrated steelmaking complexes in Volta Redonda, in the state of Rio de Janeiro.

The company produces flat steel products, including galvanized, tinplate and other coated steels, as well as hot- and cold-rolled steel. Its products serve industries such as automotive manufacturing, construction, packaging, appliances and general industrial production.