Companhia Siderúrgica Nacional (NYSE:SID) Shares Down 3.3% – What’s Next?

Shares of Companhia Siderúrgica Nacional (NYSE:SID) fell 3.3% on Wednesday . The company traded as low as $1.61 and last traded at $1.62. 1,028,259 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 2,269,545 shares. The stock had previously closed at $1.67.

Wall Street Analysts Forecast Growth

SID has been the topic of a number of research analyst reports. UBS Group initiated coverage on Companhia Siderúrgica Nacional in a report on Wednesday, March 12th. They set a “sell” rating and a $1.30 price target on the stock. StockNews.com lowered shares of Companhia Siderúrgica Nacional from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th.

Companhia Siderúrgica Nacional Stock Performance

The company has a debt-to-equity ratio of 2.77, a current ratio of 1.34 and a quick ratio of 0.93. The company has a fifty day moving average price of $1.58 and a 200 day moving average price of $1.78. The stock has a market cap of $2.15 billion, a P/E ratio of -10.83 and a beta of 2.16.

Companhia Siderúrgica Nacional (NYSE:SID) last announced its quarterly earnings results on Wednesday, March 12th. The basic materials company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Companhia Siderúrgica Nacional had a negative net margin of 2.37% and a negative return on equity of 5.79%. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $11.85 billion. On average, equities analysts expect that Companhia Siderúrgica Nacional will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Companhia Siderúrgica Nacional

Several large investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new stake in Companhia Siderúrgica Nacional during the 4th quarter worth approximately $35,000. Pinnacle Wealth Planning Services Inc. boosted its position in shares of Companhia Siderúrgica Nacional by 41.3% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 31,855 shares of the basic materials company’s stock valued at $46,000 after buying an additional 9,314 shares during the last quarter. Savvy Advisors Inc. grew its holdings in Companhia Siderúrgica Nacional by 56.1% during the fourth quarter. Savvy Advisors Inc. now owns 36,133 shares of the basic materials company’s stock worth $52,000 after buying an additional 12,987 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Companhia Siderúrgica Nacional in the 4th quarter valued at $55,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Companhia Siderúrgica Nacional during the 3rd quarter valued at $101,000.

Companhia Siderúrgica Nacional 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.