National Steel (NYSE:SID) Issues Earnings Results

National Steel (NYSE:SID) released its earnings results on Thursday. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.14), FiscalAI reports. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.08 billion. National Steel had a negative return on equity of 14.90% and a negative net margin of 5.26%.

National Steel Stock Down 6.3%

SID traded down $0.05 during trading on Thursday, reaching $0.78. 2,538,325 shares of the stock were exchanged, compared to its average volume of 11,624,214. 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’s 50 day moving average price is $1.07 and its two-hundred day moving average price is $1.22. National Steel has a twelve month low of $0.70 and a twelve month high of $2.20. The stock has a market cap of $1.03 billion, a P/E ratio of -2.29 and a beta of 1.75.

Analysts Set New Price Targets

SID has been the subject of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of National Steel in a report on Monday, September 14th. Zacks Research lowered shares of National Steel from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen cut shares of National Steel from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. 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.

About National Steel

Companhia Siderúrgica Nacional (CSN), traded in the U.S. under the ticker SID, is a Brazilian industrial group best known for its steel operations. Founded in 1941, the company helped establish Brazil’s domestic steel industry and operates an integrated steelmaking business. CSN produces flat steel products used in sectors such as construction, automotive manufacturing, packaging and appliances. Its other businesses include iron ore mining, cement production, logistics and energy, supporting operations across the steel supply chain.