National Steel (NYSE:SID) Rating Lowered to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded National Steel from “hold” to “sell,” following Zacks Research’s downgrade to “strong sell” and Weiss Ratings’ reiterated “sell” rating. MarketBeat data shows an average rating of “Strong Sell” and an average price target of $1.40.
• National Steel shares opened at $0.98, near their 50-day moving average and below the 200-day average of $1.26. The stock has traded between $0.84 and $2.20 over the past year, while the company carries high leverage with a debt-to-equity ratio of 2.96.
• The company reported a quarterly loss of $0.12 per share, in line with estimates, and revenue of $2.18 billion, slightly above expectations. Despite a recent 175.3% increase in HRT Financial’s stake, National Steel posted negative net margins and return on equity.

National Steel (NYSE:SID - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

A number of other brokerages have also recently issued reports on SID. Zacks Research cut shares of National Steel from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of National Steel in a research report on Wednesday, June 17th. Three investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of "Strong Sell" and an average price target of $1.40.

National Steel Stock Performance

NYSE:SID opened at $0.98 on Friday. The business has a 50 day moving average of $0.98 and a 200 day moving average of $1.26. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -2.87 and a beta of 1.57. National Steel has a 1-year low of $0.84 and a 1-year high of $2.20. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.15 and a quick ratio of 0.79.

National Steel (NYSE:SID - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The basic materials company reported ($0.12) EPS for the quarter, meeting analysts' consensus estimates of ($0.12). The business had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.13 billion. National Steel had a negative net margin of 5.26% and a negative return on equity of 14.90%. On average, sell-side analysts predict that National Steel will post 0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On National Steel

A hedge fund recently raised its stake in National Steel stock. HRT Financial LP raised its stake in National Steel Company (NYSE:SID - Free Report) by 175.3% in the 4th quarter, according to its most recent disclosure 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 quarter. HRT Financial LP's holdings in National Steel were worth $902,000 at the end of the most recent quarter.

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.

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