Companhia Siderúrgica Nacional (NYSE:SID) Rating Lowered to Buy at StockNews.com

Companhia Siderúrgica Nacional (NYSE:SID - Get Free Report) was downgraded by equities researchers at StockNews.com from a "strong-buy" rating to a "buy" rating in a note issued to investors on Wednesday.

A number of other analysts also recently commented on the stock. Bank of America downgraded shares of Companhia Siderúrgica Nacional from a "neutral" rating to an "underperform" rating and decreased their price objective for the stock from $3.90 to $2.90 in a report on Tuesday, April 9th. Itau BBA Securities reissued an "underperform" rating and set a $3.00 price objective on shares of Companhia Siderúrgica Nacional in a report on Thursday, April 4th.

Companhia Siderúrgica Nacional Price Performance

NYSE:SID traded down $0.04 during midday trading on Wednesday, reaching $2.69. The stock had a trading volume of 2,478,299 shares, compared to its average volume of 2,756,976. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.94 and a current ratio of 1.32. Companhia Siderúrgica Nacional has a 12-month low of $2.11 and a 12-month high of $4.03. The firm has a fifty day simple moving average of $2.93 and a two-hundred day simple moving average of $3.24.

Companhia Siderúrgica Nacional (NYSE:SID - Get Free Report) last issued its earnings results on Thursday, March 7th. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). The firm had revenue of $2.42 billion during the quarter. Companhia Siderúrgica Nacional had a net margin of 1.45% and a return on equity of 3.15%. On average, sell-side analysts predict that Companhia Siderúrgica Nacional will post 0.12 earnings per share for the current year.

Institutional Trading of Companhia Siderúrgica Nacional

Several institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. purchased a new stake in shares of Companhia Siderúrgica Nacional in the first quarter valued at about $311,000. BNP Paribas Financial Markets lifted its holdings in shares of Companhia Siderúrgica Nacional by 880.8% in the first quarter. BNP Paribas Financial Markets now owns 69,051 shares of the basic materials company's stock valued at $216,000 after purchasing an additional 62,011 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Companhia Siderúrgica Nacional in the fourth quarter valued at about $114,000. Barometer Capital Management Inc. acquired a new position in shares of Companhia Siderúrgica Nacional in the fourth quarter valued at approximately $121,000. Finally, Banco BTG Pactual S.A. acquired a new position in shares of Companhia Siderúrgica Nacional in the fourth quarter valued at approximately $1,510,000.

Companhia Siderúrgica Nacional Company Profile

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates through five segments: Steel, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as high, medium, low carbon, micro-alloyed, ultra-low-carbon, and interstitial free slabs; hot-rolled products, including heavy and light-gauge hot-rolled coils and sheets; cold-rolled products comprising cold-rolled coils and sheets; galvanized products; tin mill products consisting of flat-rolled low-carbon steel coils or sheets; and profiles, channels, UPE sections, and steel sleepers for the distribution, packaging, automotive, home appliance, and construction industries.