Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) Stock Crosses Below Fifty Day Moving Average - Here's What Happened

Key Points

• Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY) shares fell below their 50-day moving average on Friday, trading as low as $1.50 and last changing hands at $1.58.
• Zacks Research downgraded the stock from strong-buy to hold, and MarketBeat data shows the current consensus rating is also Hold.
• The company’s latest earnings missed expectations, posting $0.11 EPS versus $0.13 expected and revenue of $1.11 billion versus $6.63 billion forecast.

Usinas Siderurgicas de Minas Gerais SA (OTCMKTS:USNZY - Get Free Report) shares passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $1.84 and traded as low as $1.50. Usinas Siderurgicas de Minas Gerais shares last traded at $1.58, with a volume of 90,034 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut Usinas Siderurgicas de Minas Gerais from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold".

Usinas Siderurgicas de Minas Gerais Price Performance

The firm has a 50-day simple moving average of $1.84 and a two-hundred day simple moving average of $1.49. The company has a market capitalization of $865.56 million, a price-to-earnings ratio of -4.05, a P/E/G ratio of 0.16 and a beta of 1.46. The company has a current ratio of 4.54, a quick ratio of 2.96 and a debt-to-equity ratio of 0.26.

Usinas Siderurgicas de Minas Gerais (OTCMKTS:USNZY - Get Free Report) last issued its earnings results on Friday, April 24th. The basic materials company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $6.63 billion. Usinas Siderurgicas de Minas Gerais had a positive return on equity of 4.13% and a negative net margin of 10.22%. As a group, analysts predict that Usinas Siderurgicas de Minas Gerais SA will post 0.27 earnings per share for the current fiscal year.

About Usinas Siderurgicas de Minas Gerais

Usinas Siderúrgicas de Minas Gerais SA OTCMKTS: USNZY, widely known as Usiminas, is one of Brazil's leading integrated steel producers. The company operates across the full steel value chain, from iron ore mining to the manufacture and distribution of flat steel products. Its portfolio includes hot- and cold-rolled coils, coated sheets, tin plates, plates and tubular products, which serve a broad array of end markets such as construction, automotive, packaging, machinery and energy.

Founded in the mid-1950s through a partnership between Brazilian and international investors, Usiminas is headquartered in Belo Horizonte and maintains its principal steelmaking facilities in Ipatinga, Minas Gerais, as well as secondary operations in Cubatão (São Paulo) and Santa Cruz.

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