National Steel (NYSE:SID) Stock Price Up 7.4% – Time to Buy?

National Steel Company (NYSE:SID)’s share price traded up 7.4% on Wednesday. The company traded as high as $1.08 and last traded at $1.0950. 2,235,564 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 5,010,331 shares. The stock had previously closed at $1.02.

Wall Street Analysts Forecast Growth

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

National Steel Price Performance

The firm has a market cap of $1.48 billion, a P/E ratio of -3.28 and a beta of 1.55. The stock’s 50-day moving average is $1.07 and its 200-day moving average is $1.15. The company has a quick ratio of 0.79, a current ratio of 1.15 and a debt-to-equity ratio of 2.96.

National Steel (NYSE:SID) last posted its quarterly earnings results on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). The company had revenue of $2.18 billion for the quarter, compared to analyst estimates 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 analysts anticipate that National Steel Company will post -0.02 EPS for the current fiscal year.

National Steel Company Profile

Companhia Siderúrgica Nacional, commonly known as CSN or National Steel, is a Brazilian industrial company engaged primarily in the production and sale of steel. Its product portfolio includes flat steel, long steel, galvanized steel and tinplate products, which serve customers in industries such as construction, automotive manufacturing, packaging and general manufacturing.

CSN also operates businesses that support its steel activities, including iron ore mining, cement production and logistics.