National Steel (NYSE:SID) Hits New 1-Year Low - Here's What Happened

Key Points

• National Steel shares fell to a new 52-week low of $0.7971, closing near $0.80 after trading volume exceeded 8.2 million shares.
• Analyst sentiment is strongly negative: Zacks Research and Wall Street Zen downgraded the stock to “strong sell” and “sell,” while Weiss Ratings maintained a “sell” rating. The average price target is $1.40.
• The company reported a quarterly loss of $0.12 per share, matching estimates, despite revenue of $2.18 billion topping expectations. Analysts anticipate a full-year loss of approximately $0.20 per share.

Shares of National Steel Company (NYSE:SID - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $0.7971 and last traded at $0.80, with a volume of 8,262,217 shares changing hands. The stock had previously closed at $0.8701.

Analyst Upgrades and Downgrades

SID has been the topic of a number of research analyst reports. Zacks Research downgraded National Steel from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 13th. Weiss Ratings restated a "sell (d-)" rating on shares of National Steel in a research report on Monday, September 14th. Finally, Wall Street Zen downgraded National Steel from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. Three research analysts have rated the stock with a Sell rating. According to MarketBeat.com, the stock has an average rating of "Strong Sell" and an average price target of $1.40.

National Steel Price Performance

The company's 50-day moving average is $1.13 and its 200-day moving average is $1.28. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -2.33 and a beta of 1.55. 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 earnings results on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.12). The business had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.13 billion. National Steel had a negative return on equity of 14.90% and a negative net margin of 5.26%. On average, research analysts expect that National Steel Company will post -0.20 earnings per share for the current year.

National Steel Company Profile

Companhia Siderúrgica Nacional NYSE: SID, commonly known as CSN, is a Brazilian industrial company engaged primarily in steel production. Its operations include the manufacture and sale of flat steel products, such as galvanized, tinplate and coated steel, as well as other products used in construction, automotive manufacturing, appliances and industrial applications.

Founded in 1941, CSN operates an integrated steelmaking complex in Volta Redonda, in the state of Rio de Janeiro. The company also has interests in iron ore mining, cement production, logistics and energy, supporting its vertically integrated industrial model.

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