National Steel (NYSE:SID) Stock Jumps 7.4% – Should You Buy?

National Steel Company (NYSE:SID) rose 7.4% during mid-day trading on Wednesday. The stock traded as high as $1.08 and last traded at $1.0950. Approximately 2,235,564 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 5,010,331 shares. The stock had previously closed at $1.02.

Analyst Ratings Changes

A number of research firms recently issued reports on SID. Zacks Research lowered National Steel from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 13th. Wall Street Zen downgraded National Steel from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of National Steel in a research report on Monday, September 14th. Three investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and an average target price of $1.40.

National Steel Trading Up 7.4%

The business has a 50 day simple moving average of $1.07 and a two-hundred day simple moving average of $1.15. The company has a current ratio of 1.15, a quick ratio of 0.79 and a debt-to-equity ratio of 2.96. The company has a market cap of $1.45 billion, a PE ratio of -3.22 and a beta of 1.61.

National Steel (NYSE:SID) last released its earnings results on Thursday, August 13th. The basic materials company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). National Steel had a negative return on equity of 14.90% and a negative net margin of 5.26%.The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.13 billion. On average, analysts forecast that National Steel Company will post -0.02 EPS for the current fiscal year.

National Steel Company Profile

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.