National Steel (NYSE:SID) Releases Earnings Results, Beats Expectations By $0.01 EPS

National Steel (NYSE:SID) issued its quarterly earnings results on Wednesday. The basic materials company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01, FiscalAI reports. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.13 billion. National Steel had a negative return on equity of 10.69% and a negative net margin of 3.92%.

National Steel Stock Up 2.5%

SID traded up $0.02 on Thursday, hitting $0.89. 1,783,709 shares of the company were exchanged, compared to its average volume of 4,708,986. The company has a market cap of $1.18 billion, a PE ratio of -3.73 and a beta of 1.57. National Steel has a 12 month low of $0.84 and a 12 month high of $2.20. The stock’s fifty day moving average is $1.02 and its 200-day moving average is $1.30. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.73 and a current ratio of 1.11.

Institutional Inflows and Outflows

An institutional investor recently raised its position in National Steel stock. HRT Financial LP boosted its position in National Steel Company (NYSE:SID) by 175.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 564,262 shares of the basic materials company’s stock after purchasing an additional 359,335 shares during the period. HRT Financial LP’s holdings in National Steel were worth $902,000 as of its most recent filing with the SEC.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of National Steel in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, National Steel currently has a consensus rating of “Sell” and a consensus price target of $1.40.

About National Steel

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates through five segments: Steel Industry, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as hot and cold rolled, galvanized, galvalume, pre-painted, and metal sheets products; coil, sheets, and derivatives; tiles and derivatives, pipes, and profiles; long steel products; steel packaging solutions for the food industry; chemical packaging solution; and carbochemical products.