National Steel (NYSE:SID) Shares Climb 7.2% - What's Next?

Key Points

• National Steel shares rose 7.2% to approximately $1.1150, despite trading volume falling 34% below the average session level.
• Analyst sentiment remains strongly negative: three analysts rate the stock “Sell,” with MarketBeat reporting an average rating of “Strong Sell” and a $1.40 price target.
• The company matched quarterly EPS expectations at a loss of $0.12 but exceeded revenue estimates with $2.18 billion; analysts project a full-year loss of $0.20 per share.

Shares of National Steel Company (NYSE:SID - Get Free Report) shot up 7.2% on Friday. The company traded as high as $1.10 and last traded at $1.1150. Approximately 3,555,163 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 5,363,678 shares. The stock had previously closed at $1.04.

Analyst Upgrades and Downgrades

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

National Steel Stock Performance

The company has a 50-day simple moving average of $1.13 and a two-hundred day simple moving average of $1.15. The company has a quick ratio of 0.79, a current ratio of 1.15 and a debt-to-equity ratio of 2.96. The firm has a market cap of $1.48 billion, a PE ratio of -3.28 and a beta of 1.55.

National Steel (NYSE:SID - Get Free Report) last announced its earnings results on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.13 billion. National Steel had a negative return on equity of 14.90% and a negative net margin of 5.26%. As a group, equities research analysts forecast that National Steel Company will post -0.20 earnings per share for the current year.

About National Steel

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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