National Steel (NYSE:SID) Issues Quarterly Earnings Results, Misses Expectations By $0.14 EPS

National Steel (NYSE:SID) posted its earnings results on Thursday. The basic materials company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.14), FiscalAI reports. National Steel had a negative return on equity of 14.90% and a negative net margin of 5.26%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.08 billion.

National Steel Stock Performance

Shares of NYSE:SID traded down $0.05 during midday trading on Thursday, reaching $0.78. The company had a trading volume of 2,538,325 shares, compared to its average volume of 11,624,214. The stock has a market cap of $1.03 billion, a P/E ratio of -2.29 and a beta of 1.75. The company’s 50 day moving average price is $1.07 and its 200 day moving average price is $1.22. 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 has a 52-week low of $0.70 and a 52-week high of $2.20.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SID shares. Wall Street Zen lowered National Steel from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Zacks Research lowered shares of National Steel from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings reaffirmed 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 MarketBeat.com, National Steel presently has an average rating of “Strong Sell” and an average target price of $1.40.

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.