Companhia Siderúrgica Nacional (NYSE:SID) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Companhia Siderúrgica Nacional (NYSE:SID) from a buy rating to a hold rating in a research report released on Thursday morning.

SID has been the subject of several other reports. Bank of America downgraded shares of Companhia Siderúrgica Nacional from a neutral rating to an underperform rating and lowered their price target for the stock from $3.90 to $2.90 in a research note on Tuesday, April 9th. Itau BBA Securities restated an underperform rating and set a $3.00 target price on shares of Companhia Siderúrgica Nacional in a report on Thursday, April 4th.

Companhia Siderúrgica Nacional Trading Up 3.2 %

NYSE:SID opened at $2.60 on Thursday. The business has a 50 day moving average of $2.86 and a 200 day moving average of $3.25. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.94 and a current ratio of 1.32. Companhia Siderúrgica Nacional has a 1-year low of $2.11 and a 1-year high of $4.03.

Companhia Siderúrgica Nacional (NYSE:SID) last posted its quarterly earnings results on Thursday, March 7th. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). Companhia Siderúrgica Nacional had a return on equity of 3.15% and a net margin of 1.45%. The business had revenue of $2.42 billion for the quarter. As a group, research analysts anticipate that Companhia Siderúrgica Nacional will post 0.12 earnings per share for the current fiscal year.

Companhia Siderúrgica Nacional Cuts Dividend

The company also recently declared a — dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Friday, January 1st were given a dividend of $0.1395 per share. The ex-dividend date was Wednesday, May 22nd. This represents a yield of 16.6%. Companhia Siderúrgica Nacional’s payout ratio is currently 311.15%.

Hedge Funds Weigh In On Companhia Siderúrgica Nacional

A number of hedge funds have recently modified their holdings of the company. Lindbrook Capital LLC grew its stake in shares of Companhia Siderúrgica Nacional by 42.7% in the fourth quarter. Lindbrook Capital LLC now owns 9,876 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 2,956 shares during the last quarter. Jump Financial LLC purchased a new stake in Companhia Siderúrgica Nacional in the 4th quarter worth approximately $51,000. Quadrant Capital Group LLC lifted its holdings in Companhia Siderúrgica Nacional by 28.2% in the 4th quarter. Quadrant Capital Group LLC now owns 13,305 shares of the basic materials company’s stock worth $52,000 after buying an additional 2,930 shares during the period. Headlands Technologies LLC bought a new stake in shares of Companhia Siderúrgica Nacional in the 4th quarter worth approximately $54,000. Finally, First Affirmative Financial Network purchased a new position in shares of Companhia Siderúrgica Nacional during the fourth quarter valued at approximately $54,000.

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, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as high, medium, low carbon, micro-alloyed, ultra-low-carbon, and interstitial free slabs; hot-rolled products, including heavy and light-gauge hot-rolled coils and sheets; cold-rolled products comprising cold-rolled coils and sheets; galvanized products; tin mill products consisting of flat-rolled low-carbon steel coils or sheets; and profiles, channels, UPE sections, and steel sleepers for the distribution, packaging, automotive, home appliance, and construction industries.