National Steel (NYSE:SID) Announces Earnings Results, Hits Estimates

National Steel (NYSE:SID) announced its earnings results on Wednesday. The basic materials company reported ($0.12) EPS for the quarter, hitting the consensus estimate of ($0.12), FiscalAI reports. The firm 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 3.92% and a negative return on equity of 10.69%.

National Steel Stock Up 2.8%

SID opened at $0.89 on Friday. The business has a 50 day moving average of $1.02 and a 200-day moving average of $1.30. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -3.72 and a beta of 1.57. The company has a current ratio of 1.11, a quick ratio of 0.73 and a debt-to-equity ratio of 2.60. National Steel has a 1-year low of $0.84 and a 1-year high of $2.20.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of National Steel in a report on Wednesday, June 17th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Sell” and a consensus price target of $1.40.

Hedge Funds Weigh In On National Steel

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

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.