National Steel (NYSE:SID) Shares Down 5.4% – What’s Next?

National Steel Company (NYSE:SID)’s stock price dropped 5.4% during mid-day trading on Tuesday. The company traded as low as $0.8606 and last traded at $0.8630. Approximately 7,007,512 shares were traded during trading, an increase of 26% from the average daily volume of 5,578,422 shares. The stock had previously closed at $0.9118.

Analyst Upgrades and Downgrades

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

National Steel Stock Performance

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 company has a market cap of $1.03 billion, a P/E ratio of -2.26 and a beta of 1.55. The stock’s fifty day moving average price is $1.13 and its two-hundred day moving average price is $1.28.

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

About National Steel

Companhia Siderúrgica Nacional (NYSE: SID), commonly known as CSN, is a Brazilian industrial company engaged primarily in steel production. Its operations include the manufacture and sale of flat steel products, such as galvanized, tinplate and coated steel, as well as other products used in construction, automotive manufacturing, appliances and industrial applications.

Founded in 1941, CSN operates an integrated steelmaking complex in Volta Redonda, in the state of Rio de Janeiro. The company also has interests in iron ore mining, cement production, logistics and energy, supporting its vertically integrated industrial model.