National Steel (NYSE:SID) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of National Steel (NYSE:SID) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

Several other brokerages have also weighed in on SID. Zacks Research lowered National Steel from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of National Steel in a research note on Wednesday, June 17th. Three investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Strong Sell” and an average price target of $1.40.

National Steel Price Performance

National Steel stock opened at $1.03 on Friday. National Steel has a 1 year low of $0.84 and a 1 year high of $2.20. 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 firm has a 50 day moving average price of $0.98 and a 200 day moving average price of $1.24. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -3.04 and a beta of 1.57.

National Steel (NYSE:SID) last posted its quarterly 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 company had revenue of $2.18 billion for 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%. Sell-side analysts predict that National Steel will post 0.11 earnings per share for the current year.

Institutional Trading of National Steel

A hedge fund recently raised its position in National Steel stock. HRT Financial LP grew its stake in shares of National Steel Company (NYSE:SID) by 175.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 564,262 shares of the basic materials company’s stock after acquiring an additional 359,335 shares during the period. HRT Financial LP’s holdings in National Steel were worth $902,000 at the end of the most recent quarter.

About National Steel

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates through five segments: Steel Industry, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as hot and cold rolled, galvanized, galvalume, pre-painted, and metal sheets products; coil, sheets, and derivatives; tiles and derivatives, pipes, and profiles; long steel products; steel packaging solutions for the food industry; chemical packaging solution; and carbochemical products.