National Steel (NYSE:SID) Shares Gap Down – Here’s Why

National Steel Company (NYSE:SID)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $1.21, but opened at $1.17. National Steel shares last traded at $1.1750, with a volume of 1,341,146 shares.

Wall Street Analyst Weigh In

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

National Steel Trading Down 2.1%

The business has a 50-day moving average price of $1.04 and a 200-day moving average price of $1.17. The firm has a market capitalization of $1.57 billion, a P/E ratio of -3.49 and a beta of 1.61. The company has a quick ratio of 0.79, a current ratio of 1.15 and a debt-to-equity ratio of 2.96.

National Steel (NYSE:SID) last announced its earnings results on Thursday, August 13th. The basic materials company reported ($0.12) EPS for the quarter, hitting the consensus estimate of ($0.12). The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.13 billion. National Steel had a negative return on equity of 14.90% and a negative net margin of 5.26%. Analysts anticipate that National Steel Company will post 0.05 earnings per share for the current year.

About National Steel

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.