Companhia Siderúrgica Nacional (NYSE:SID) Hits New 12-Month Low – What’s Next?

Companhia Siderúrgica Nacional (NYSE:SID) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $1.82 and last traded at $1.84, with a volume of 3488505 shares trading hands. The stock had previously closed at $1.95.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Companhia Siderúrgica Nacional from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 10th.

Companhia Siderúrgica Nacional Stock Down 5.6 %

The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.89 and a current ratio of 1.29. The firm has a 50 day simple moving average of $2.15 and a two-hundred day simple moving average of $2.29. The stock has a market cap of $2.55 billion, a P/E ratio of -61.33 and a beta of 2.16.

Companhia Siderúrgica Nacional (NYSE:SID) last released its earnings results on Monday, August 12th. The basic materials company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.18. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Companhia Siderúrgica Nacional had a negative net margin of 0.34% and a negative return on equity of 0.79%. Equities research analysts predict that Companhia Siderúrgica Nacional will post 0.31 earnings per share for the current year.

Institutional Investors Weigh In On Companhia Siderúrgica Nacional

A number of institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in shares of Companhia Siderúrgica Nacional by 51.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,928,396 shares of the basic materials company’s stock worth $4,435,000 after acquiring an additional 656,983 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Companhia Siderúrgica Nacional by 17.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,841,944 shares of the basic materials company’s stock valued at $4,236,000 after purchasing an additional 271,176 shares during the period. American Century Companies Inc. increased its stake in Companhia Siderúrgica Nacional by 14.7% in the 2nd quarter. American Century Companies Inc. now owns 1,846,867 shares of the basic materials company’s stock worth $4,248,000 after purchasing an additional 236,340 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Companhia Siderúrgica Nacional by 880.8% during the 1st quarter. BNP Paribas Financial Markets now owns 69,051 shares of the basic materials company’s stock worth $216,000 after buying an additional 62,011 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in Companhia Siderúrgica Nacional during the second quarter valued at about $38,000.

About Companhia Siderúrgica Nacional

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.