National Steel (NYSE:SID) Reaches New 12-Month Low – Here’s Why

National Steel Company (NYSE:SID)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $1.0150 and last traded at $1.0350, with a volume of 7836605 shares trading hands. The stock had previously closed at $1.05.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SID shares. Zacks Research raised National Steel from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of National Steel in a research report on Wednesday, June 17th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, National Steel has a consensus rating of “Sell” and a consensus price target of $1.40.

National Steel Price Performance

The company’s fifty day moving average price is $1.27 and its 200 day moving average price is $1.50. The company has a market capitalization of $1.37 billion, a P/E ratio of -4.31 and a beta of 1.54. The company has a quick ratio of 0.73, a current ratio of 1.11 and a debt-to-equity ratio of 2.60.

National Steel (NYSE:SID) last released its quarterly earnings results on Thursday, May 14th. The basic materials company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.13). The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.08 billion. National Steel had a negative net margin of 3.92% and a negative return on equity of 10.69%. As a group, sell-side analysts forecast that National Steel Company will post 0.19 EPS for the current year.

Hedge Funds Weigh In On National Steel

An institutional investor recently raised its stake in National Steel stock. HRT Financial LP grew its stake in shares of National Steel Company (NYSE:SID) by 175.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 564,262 shares of the basic materials company’s stock after acquiring an additional 359,335 shares during the quarter. HRT Financial LP’s holdings in National Steel were worth $902,000 as of its most recent SEC filing.

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.