National Steel (NYSE:SID) Stock Price Down 7% – Here’s Why

by · The Cerbat Gem

National Steel Company (NYSE:SID – Get Free Report)’s share price was down 7% on Friday . The stock traded as low as $1.6345 and last traded at $1.6550. Approximately 4,241,923 shares traded hands during mid-day trading, an increase of 57% from the average daily volume of 2,698,252 shares. The stock had previously closed at $1.78.

Analysts Set New Price Targets

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

Read Our Latest Stock Analysis on SID

National Steel Stock Performance

The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -9.68 and a beta of 1.74. The firm has a 50 day moving average price of $1.60 and a 200-day moving average price of $1.51. The company has a debt-to-equity ratio of 2.49, a current ratio of 1.32 and a quick ratio of 0.91.

National Steel (NYSE:SID – Get Free Report) last issued its quarterly earnings results 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). The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.08 billion. National Steel had a negative return on equity of 7.77% and a negative net margin of 2.88%. As a group, sell-side analysts expect that National Steel Company will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Savvy Advisors Inc. increased its position in shares of National Steel by 18.7% in the 1st quarter. Savvy Advisors Inc. now owns 42,872 shares of the basic materials company’s stock valued at $72,000 after purchasing an additional 6,739 shares during the last quarter. EntryPoint Capital LLC grew its stake in shares of National Steel by 23.0% during the first quarter. EntryPoint Capital LLC now owns 46,975 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 8,798 shares in the last quarter. American Century Companies Inc. increased its holdings in National Steel by 0.6% in the first quarter. American Century Companies Inc. now owns 2,187,196 shares of the basic materials company’s stock valued at $3,653,000 after buying an additional 13,632 shares during the last quarter. Headlands Technologies LLC raised its stake in National Steel by 41.4% in the first quarter. Headlands Technologies LLC now owns 62,710 shares of the basic materials company’s stock valued at $105,000 after buying an additional 18,359 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in National Steel by 155.7% during the 1st quarter. Inspire Investing LLC now owns 31,681 shares of the basic materials company’s stock worth $53,000 after buying an additional 19,289 shares during the last quarter.

National Steel Company Profile

(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.

Further Reading