National Steel (NYSE:SID) Sees Strong Trading Volume – Time to Buy?

National Steel Company (NYSE:SID) shares saw unusually-strong trading volume on Tuesday. 5,908,612 shares changed hands during mid-day trading, an increase of 14% from the previous session’s volume of 5,161,783 shares. The stock last traded at $1.2450 and had previously closed at $1.24.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of National Steel in a research report on Monday, September 14th. Zacks Research downgraded National Steel from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen cut National Steel from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Three equities research analysts have rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Strong Sell” and an average target price of $1.40.

National Steel Trading Up 0.4%

The company has a market cap of $1.65 billion, a price-to-earnings ratio of -3.66 and a beta of 1.55. The business’s 50 day moving average price is $1.07 and its 200-day moving average price is $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.

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

National Steel Company Profile

Companhia Siderúrgica Nacional, commonly known as CSN or National Steel, is a Brazilian industrial company engaged primarily in the production and sale of steel. Its product portfolio includes flat steel, long steel, galvanized steel and tinplate products, which serve customers in industries such as construction, automotive manufacturing, packaging and general manufacturing.

CSN also operates businesses that support its steel activities, including iron ore mining, cement production and logistics.