National Steel (NYSE:SID) Announces Earnings Results, Misses Estimates By $0.09 EPS

Key Points

• National Steel reported a quarterly earnings per share of (-0.02), missing estimates of 0.07 by (0.09), alongside a negative net margin of 5.84%.
• The company's revenue for the quarter was $1.91 billion, significantly lower than analyst expectations of $10.98 billion.
• Wall Street Zen upgraded National Steel from a "hold" to a "buy" rating, indicating a shift in analyst sentiment despite recent financial struggles.

National Steel (NYSE:SID - Get Free Report) posted its quarterly earnings results on Thursday. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.09), Zacks reports. The business had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $10.98 billion. National Steel had a negative return on equity of 14.12% and a negative net margin of 5.06%.

National Steel Stock Up 0.4%

Shares of SID stock traded up $0.01 during mid-day trading on Monday, reaching $1.40. 489,699 shares of the company's stock traded hands, compared to its average volume of 2,776,067. National Steel has a 12 month low of $1.27 and a 12 month high of $2.50. The company has a market cap of $1.85 billion, a P/E ratio of -4.81 and a beta of 1.64. The company has a quick ratio of 1.18, a current ratio of 1.64 and a debt-to-equity ratio of 2.94. The company's 50-day moving average price is $1.48 and its 200-day moving average price is $1.54.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of National Steel from a "hold" rating to a "buy" rating in a research note on Friday, May 16th.

National Steel Company Profile

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.