National Steel (NYSE:SID) Shares Gap Up – Time to Buy?

by · The Markets Daily

National Steel Company (NYSE:SID – Get Free Report)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $1.67, but opened at $1.74. National Steel shares last traded at $1.7550, with a volume of 614,517 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of National Steel in a research report on Wednesday, October 8th. Zacks Research raised National Steel from a “strong sell” rating to a “hold” rating in a research note on Friday, September 19th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Sell” and an average target price of $1.30.

Check Out Our Latest Report on National Steel

National Steel Price Performance

The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -10.56 and a beta of 1.74. The company has a quick ratio of 0.91, a current ratio of 1.32 and a debt-to-equity ratio of 2.49. The stock has a fifty day moving average of $1.62 and a 200-day moving average of $1.51.

National Steel (NYSE:SID – Get Free Report) last issued its quarterly earnings data on Monday, November 10th. The basic materials company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.09). National Steel had a negative return on equity of 7.77% and a negative net margin of 2.88%.The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.08 billion. On average, equities research analysts predict that National Steel Company will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On National Steel

Hedge funds have recently made changes to their positions in the company. Inspire Investing LLC lifted its holdings in shares of National Steel by 155.7% in the 1st quarter. Inspire Investing LLC now owns 31,681 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 19,289 shares during the last quarter. American Century Companies Inc. increased its position in National Steel by 0.6% during the first quarter. American Century Companies Inc. now owns 2,187,196 shares of the basic materials company’s stock worth $3,653,000 after buying an additional 13,632 shares during the period. Finally, EntryPoint Capital LLC lifted its stake in National Steel by 23.0% in the first quarter. EntryPoint Capital LLC now owns 46,975 shares of the basic materials company’s stock valued at $78,000 after buying an additional 8,798 shares during the last quarter.

About National Steel

(Get Free Report)

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.

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