National Steel Company (NYSE:SID – Get Free Report)’s share price was down 5.5% on Friday . The company traded as low as $1.11 and last traded at $1.1150. 4,665,147 shares traded hands during trading, a decline of 4% from the average daily volume of 4,834,925 shares. The stock had previously closed at $1.18.
Analyst Ratings Changes
A number of equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of National Steel in a research report on Monday. 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 lowered National Steel from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Three investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and an average price target of $1.40.
View Our Latest Research Report on SID
National Steel Price Performance
National Steel (NYSE:SID – Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). National Steel had a negative return on equity of 14.90% and a negative net margin of 5.26%.The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.13 billion. Research analysts anticipate that National Steel Company will post 0.05 earnings per share for the current year.
About National Steel
Companhia Siderúrgica Nacional (CSN), historically associated with the “National Steel” name and traded in the United States under the symbol SID, is a Brazilian industrial company headquartered in São Paulo. Founded in 1941, CSN operates one of Brazil’s major integrated steelmaking complexes in Volta Redonda, in the state of Rio de Janeiro.
The company produces flat steel products, including galvanized, tinplate and other coated steels, as well as hot- and cold-rolled steel. Its products serve industries such as automotive manufacturing, construction, packaging, appliances and general industrial production.
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