National Steel (NYSE:SID) Shares Up 7.2% – Here’s Why

National Steel Company (NYSE:SID)’s share price was up 7.2% during mid-day trading on Friday. The stock traded as high as $1.10 and last traded at $1.1150. Approximately 3,555,163 shares were traded during mid-day trading, a decline of 34% from the average session volume of 5,363,678 shares. The stock had previously closed at $1.04.

Analyst Upgrades and Downgrades

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

National Steel Price Performance

The firm has a fifty day moving average of $1.14 and a 200 day moving average of $1.15. The company has a market capitalization of $1.56 billion, a P/E ratio of -3.46 and a beta of 1.55. The company has a current ratio of 1.15, a quick ratio of 0.79 and a debt-to-equity ratio of 2.96.

National Steel (NYSE:SID) last issued its earnings results on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12). The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.13 billion. National Steel had a negative return on equity of 14.90% and a negative net margin of 5.26%. On average, equities research 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.