National Steel (NYSE:SID) Trading 6.5% Higher - What's Next?

Key Points

• National Steel (NYSE:SID) rose 6.5% in mid-day trading, reaching as high as $1.06 after closing at $1.00 the prior session.
• Analysts remain cautious: the stock has a consensus rating of “Sell” and a target price of $1.40, with recent notes including a Zacks upgrade to Hold and a Weiss Ratings Sell rating.
• The company’s latest earnings disappointed, with Q1 EPS of -$0.08 versus expectations for a profit, and revenue of $2.04 billion came in slightly below estimates.

National Steel Company (NYSE:SID - Get Free Report) was up 6.5% during mid-day trading on Wednesday . The stock traded as high as $1.06 and last traded at $1.0650. 593,632 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 4,646,031 shares. The stock had previously closed at $1.00.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SID shares. Zacks Research raised shares of National Steel from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of National Steel in a research note on Wednesday, June 17th. One equities research 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 a consensus rating of "Sell" and a consensus target price of $1.40.

National Steel Trading Up 6.5%

The stock has a fifty day moving average of $1.13 and a two-hundred day moving average of $1.40. The company has a market capitalization of $1.41 billion, a PE ratio of -4.44 and a beta of 1.58. The company has a current ratio of 1.11, a quick ratio of 0.73 and a debt-to-equity ratio of 2.60.

National Steel (NYSE:SID - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The basic materials company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.13). The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.08 billion. National Steel had a negative net margin of 3.92% and a negative return on equity of 10.69%. As a group, sell-side analysts anticipate that National Steel Company will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in National Steel stock. HRT Financial LP boosted its stake in shares of National Steel Company (NYSE:SID - Free Report) by 175.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 564,262 shares of the basic materials company's stock after acquiring an additional 359,335 shares during the quarter. HRT Financial LP's holdings in National Steel were worth $902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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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