National Steel (NYSE:SID) Shares Down 10.1% – Here’s Why

National Steel Company (NYSE:SID) shares traded down 10.1% during trading on Friday. The company traded as low as $0.7011 and last traded at $0.6940. 731,254 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 5,799,235 shares. The stock had previously closed at $0.7723.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wall Street Zen downgraded National Steel from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Zacks Research cut National Steel from a “hold” rating to a “strong sell” rating in a report on Thursday, August 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of National Steel in a research report on Monday, September 14th. Three equities research analysts have rated the stock with a Sell rating. According to data from MarketBeat.com, the company has an average rating of “Strong Sell” and a consensus price target of $1.40.

National Steel Stock Down 18.4%

The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.79 and a current ratio of 1.15. The stock has a market capitalization of $835.44 million, a P/E ratio of -1.84 and a beta of 1.75. The stock’s fifty day simple moving average is $1.07 and its two-hundred day simple moving average is $1.22.

National Steel (NYSE:SID) last released its quarterly earnings results on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.13 billion. National Steel had a negative net margin of 5.26% and a negative return on equity of 14.90%. As a group, research analysts expect that National Steel Company will post -0.20 EPS for the current fiscal year.

National Steel Company Profile

Companhia Siderúrgica Nacional (CSN), traded in the U.S. under the ticker SID, is a Brazilian industrial group best known for its steel operations. Founded in 1941, the company helped establish Brazil’s domestic steel industry and operates an integrated steelmaking business. CSN produces flat steel products used in sectors such as construction, automotive manufacturing, packaging and appliances. Its other businesses include iron ore mining, cement production, logistics and energy, supporting operations across the steel supply chain.