National Steel (NYSE:SID) Releases Quarterly Earnings Results, Misses Expectations By $0.09 EPS

National Steel (NYSE:SID) posted its earnings results on Wednesday. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.09), Zacks reports. National Steel had a negative return on equity of 13.90% and a negative net margin of 5.06%.The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.08 billion.

National Steel Stock Down 0.9%

Shares of National Steel stock traded down $0.02 on Friday, reaching $1.62. The company’s stock had a trading volume of 1,799,089 shares, compared to its average volume of 2,739,674. National Steel has a 52 week low of $1.24 and a 52 week high of $2.05. The firm’s fifty day simple moving average is $1.57 and its two-hundred day simple moving average is $1.52. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -5.57, a P/E/G ratio of 1.35 and a beta of 1.77. The company has a quick ratio of 0.95, a current ratio of 1.35 and a debt-to-equity ratio of 2.60.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SID. Zacks Research raised shares of National Steel from a “strong sell” rating to a “hold” rating in a research note on Friday, September 19th. Weiss Ratings restated a “sell (d)” rating on shares of National Steel in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Sell” and a consensus price target of $1.30.

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.