National Steel (NYSE:SID) Reaches New 52-Week High – What’s Next?

National Steel Company (NYSE:SID) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $1.96 and last traded at $1.9540, with a volume of 6000972 shares trading hands. The stock had previously closed at $1.82.

Wall Street Analyst Weigh In

Several research firms recently commented on SID. UBS Group boosted their target price on National Steel from $1.30 to $1.40 and gave the stock a “sell” rating in a research note on Monday, December 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of National Steel in a research note on Wednesday. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Sell” and an average target price of $1.40.

National Steel Trading Up 7.4%

The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -11.49 and a beta of 1.67. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.91 and a current ratio of 1.32. The company has a 50-day moving average price of $1.69 and a 200-day moving average price of $1.56.

National Steel (NYSE:SID) last issued its earnings results on Monday, November 10th. The basic materials company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.09). The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.08 billion. National Steel had a negative return on equity of 7.77% and a negative net margin of 2.88%. As a group, research analysts forecast that National Steel Company will post -0.02 EPS for the current fiscal year.

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.