National Steel (NYSE:SID) Announces Earnings Results

National Steel (NYSE:SID) issued its quarterly earnings results on Thursday. The basic materials company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.13), FiscalAI reports. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.08 billion. National Steel had a negative return on equity of 10.92% and a negative net margin of 4.00%.

Here are the key takeaways from National Steel’s conference call:

• CSN reported EBITDA growth of about 5.5% year over year despite heavy rainfall and imported-material competition, helped by strong contributions from cement and logistics.
• Leverage improved to 3.36x from 3.47x, supported by debt payments, better operations, and new iron ore prepayment contracts. Management said the company remains focused on further deleveraging.
• Cement delivered record profitability with the highest EBITDA in company history and margins above 30%, and management described the segment as resilient with further upside from pricing and demand.
• Mining posted record own production despite severe rainfall, while Tecar also reached a shipment record, highlighting operational resilience in a difficult quarter.
• CSN secured a US$1.2 billion bridge loan that can be expanded to US$1.4 billion, mainly to pre-fund upcoming amortizations and support liquidity while the company advances asset sales and debt refinancing.

National Steel Trading Up 5.9%

National Steel stock traded up $0.08 during trading hours on Thursday, reaching $1.36. The stock had a trading volume of 3,502,393 shares, compared to its average volume of 3,196,718. The company has a fifty day simple moving average of $1.30 and a 200-day simple moving average of $1.57. National Steel has a 52 week low of $1.11 and a 52 week high of $2.20. The stock has a market cap of $1.80 billion, a PE ratio of -5.65 and a beta of 1.54. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.08 and a quick ratio of 0.71.

Analyst Ratings Changes

Several equities analysts have recently commented on SID shares. Zacks Research upgraded National Steel from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of National Steel in a research note on Wednesday, January 21st. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Sell” and an average target price of $1.40.

Institutional Trading of National Steel

An institutional investor recently raised its position in National Steel stock. HRT Financial LP boosted its holdings in shares of National Steel Company (NYSE:SID) by 175.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

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.