National Steel (NYSE:SID) Reaches New 1-Year Low – What’s Next?

National Steel Company (NYSE:SID) hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $0.7032 and last traded at $0.7040, with a volume of 11,012,332 shares. The stock had previously closed at $0.72.

Analyst Upgrades and Downgrades

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

National Steel Stock Down 2.2%

The firm’s 50 day simple moving average is $1.12 and its 200 day simple moving average is $1.26. The company has a market cap of $933.57 million, a price-to-earnings ratio of -2.07 and a beta of 1.55. The company has a quick ratio of 0.79, a current ratio of 1.15 and a debt-to-equity ratio of 2.96.

National Steel (NYSE:SID) last issued its quarterly earnings data on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). National Steel had a negative return on equity of 14.90% and a negative net margin of 5.26%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.13 billion. Sell-side analysts anticipate that National Steel Company will post -0.20 EPS for the current fiscal 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.