National Steel (NYSE:SID) Stock Price Up 7.4% - Here's What Happened

Key Points

• National Steel shares rose 7.4% to approximately $1.095, although trading volume was 55% below the average session volume.
• Analyst sentiment remains strongly negative: three analysts rate the stock “Sell,” resulting in a consensus “Strong Sell” rating despite an average price target of $1.40.
• The company met quarterly EPS expectations at a loss of $0.12 per share and exceeded revenue estimates with $2.18 billion, but it reported negative net margin and return on equity, alongside a high debt-to-equity ratio of 2.96.

National Steel Company (NYSE:SID - Get Free Report) was up 7.4% on Wednesday. The stock traded as high as $1.08 and last traded at $1.0950. Approximately 2,235,564 shares changed hands during trading, a decline of 55% from the average session volume of 5,010,331 shares. The stock had previously closed at $1.02.

Analysts Set New Price Targets

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

National Steel Trading Up 7.4%

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 business's fifty day moving average is $1.07 and its 200 day moving average is $1.15. The stock has a market cap of $1.45 billion, a PE ratio of -3.22 and a beta of 1.61.

National Steel (NYSE:SID - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.12). The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.13 billion. National Steel had a negative net margin of 5.26% and a negative return on equity of 14.90%. As a group, analysts predict that National Steel Company will post -0.02 earnings per share for the current year.

National Steel Company Profile

Companhia Siderúrgica Nacional (CSN), historically associated with the “National Steel” name and traded in the United States under the symbol SID, is a Brazilian industrial company headquartered in São Paulo. Founded in 1941, CSN operates one of Brazil's major integrated steelmaking complexes in Volta Redonda, in the state of Rio de Janeiro.

The company produces flat steel products, including galvanized, tinplate and other coated steels, as well as hot- and cold-rolled steel. Its products serve industries such as automotive manufacturing, construction, packaging, appliances and general industrial production.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.