National Steel (NYSE:SID) Shares Gap Down – Here’s What Happened

National Steel Company (NYSE:SID) gapped down before the market opened on Tuesday. The stock had previously closed at $1.11, but opened at $1.04. National Steel shares last traded at $1.0250, with a volume of 887,466 shares.

Analyst Ratings Changes

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

National Steel Trading Down 10.1%

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 $1.32 billion, a P/E ratio of -2.91 and a beta of 1.61. The firm’s fifty day simple moving average is $1.06 and its 200 day simple moving average is $1.15.

National Steel (NYSE:SID) last issued its quarterly earnings results on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12). The company 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, equities research analysts forecast that National Steel Company will post -0.02 EPS for the current fiscal year.

About National Steel

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.