National Steel (NYSE:SID) Posts Earnings Results, Beats Estimates By $0.01 EPS

National Steel (NYSE:SID) posted its quarterly earnings results on Wednesday. The basic materials company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01, FiscalAI reports. National Steel had a negative return on equity of 10.69% and a negative net margin of 3.92%.The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.13 billion.

National Steel Stock Performance

National Steel stock traded up $0.02 during midday trading on Thursday, hitting $0.89. The company’s stock had a trading volume of 1,783,709 shares, compared to its average volume of 4,708,986. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.11 and a quick ratio of 0.73. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -3.73 and a beta of 1.57. National Steel has a 1-year low of $0.84 and a 1-year high of $2.20. The company has a 50-day moving average price of $1.02 and a two-hundred day moving average price of $1.30.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of National Steel in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, National Steel presently has a consensus rating of “Sell” and an average price target of $1.40.

Institutional Investors Weigh In On National Steel

A hedge fund recently raised its position in National Steel stock. HRT Financial LP lifted its stake in National Steel Company (NYSE:SID) by 175.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 564,262 shares of the basic materials company’s stock after buying an additional 359,335 shares during the period. HRT Financial LP’s holdings in National Steel were worth $902,000 as of its most recent filing with the Securities and Exchange Commission.

National Steel Company Profile

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.