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

National Steel Company (NYSE:SID) shares reached a new 52-week low on Wednesday. The stock traded as low as $0.7971 and last traded at $0.80, with a volume of 8,262,217 shares traded. The stock had previously closed at $0.8701.

Wall Street Analyst Weigh In

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

National Steel Price Performance

The stock has a 50 day moving average of $1.13 and a two-hundred day moving average of $1.28. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.79 and a current ratio of 1.15. The stock has a market cap of $1.04 billion, a PE ratio of -2.33 and a beta of 1.55.

National Steel (NYSE:SID) last issued its earnings results on Thursday, August 13th. The basic materials company reported ($0.12) EPS for the quarter, meeting analysts’ consensus estimates of ($0.12). The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.13 billion. National Steel had a negative return on equity of 14.90% and a negative net margin of 5.26%. Equities analysts anticipate that National Steel Company will post -0.20 EPS 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.