National Steel (NYSE:SID) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

National Steel Company (NYSE:SID) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.60 and traded as high as $1.95. National Steel shares last traded at $1.8850, with a volume of 6,900,859 shares.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of National Steel in a research report on Wednesday, January 21st. UBS Group raised their target price on shares of National Steel from $1.30 to $1.40 and gave the company a “sell” rating in a research note on Monday, December 15th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Sell” and an average price target of $1.40.

National Steel Price Performance

The company has a current ratio of 1.32, a quick ratio of 0.91 and a debt-to-equity ratio of 2.49. The stock has a market capitalization of $2.50 billion, a PE ratio of -11.09 and a beta of 1.66. The business has a fifty day moving average price of $1.77 and a 200-day moving average price of $1.60.

National Steel (NYSE:SID) last announced its quarterly earnings data on Monday, November 10th. The basic materials company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.08 billion. National Steel had a negative net margin of 2.88% and a negative return on equity of 7.77%. Research analysts expect that National Steel Company will post -0.02 EPS for the current fiscal 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.