National Steel (NYSE:SID) Shares Gap Down – Time to Sell?

Shares of National Steel Company (NYSE:SID) gapped down before the market opened on Tuesday. The stock had previously closed at $1.11, but opened at $1.04. National Steel shares last traded at $1.0250, with a volume of 887,466 shares traded.

Wall Street Analyst Weigh In

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

National Steel Stock Performance

The company has a market capitalization of $1.32 billion, a P/E ratio of -2.91 and a beta of 1.61. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.15 and a quick ratio of 0.79. The company has a fifty day moving average price of $1.06 and a two-hundred day moving average price of $1.15.

National Steel (NYSE:SID) last released its quarterly earnings results on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.13 billion. National Steel had a negative net margin of 5.26% and a negative return on equity of 14.90%. Equities analysts forecast that National Steel Company will post -0.02 earnings per share for the current fiscal year.

National Steel Company Profile

Companhia Siderúrgica Nacional (CSN), historically associated with the “National Steel” name and traded in the United States under the symbol SID, is a Brazilian industrial company headquartered in São Paulo. Founded in 1941, CSN operates one of Brazil’s major integrated steelmaking complexes in Volta Redonda, in the state of Rio de Janeiro.

The company produces flat steel products, including galvanized, tinplate and other coated steels, as well as hot- and cold-rolled steel. Its products serve industries such as automotive manufacturing, construction, packaging, appliances and general industrial production.