National Steel (NYSE:SID) Hits New 1-Year High – Here’s What Happened

National Steel Company (NYSE:SID)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $2.20 and last traded at $2.1250, with a volume of 6869429 shares changing hands. The stock had previously closed at $2.06.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SID shares. UBS Group raised their price objective on National Steel from $1.30 to $1.40 and gave the company a “sell” rating in a research note on Monday, December 15th. Weiss Ratings reissued a “sell (d)” rating on shares of National Steel in a research report on Wednesday, January 21st. One research 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.com, the stock has a consensus rating of “Sell” and a consensus target price of $1.40.

National Steel Price Performance

The stock has a market cap of $2.53 billion, a P/E ratio of -11.21 and a beta of 1.67. The business has a 50 day simple moving average of $1.74 and a 200-day simple moving average of $1.58. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.91 and a current ratio of 1.32.

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