National Steel (NYSE:SID) Shares Gap Down – Should You Sell?

National Steel Company (NYSE:SID)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $1.21, but opened at $1.17. National Steel shares last traded at $1.1750, with a volume of 1,341,146 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SID shares. Zacks Research cut National Steel from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Wall Street Zen downgraded National Steel from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of National Steel in a research report on Monday. Three equities research analysts have rated the stock with a Sell rating, According to MarketBeat, National Steel currently has an average rating of “Strong Sell” and a consensus target price of $1.40.

National Steel Price Performance

The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.79 and a current ratio of 1.15. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -3.25 and a beta of 1.61. The business’s 50 day simple moving average is $1.05 and its 200-day simple moving average is $1.17.

National Steel (NYSE:SID) last announced its quarterly earnings results on Thursday, August 13th. The basic materials company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.13 billion. National Steel had a negative net margin of 5.26% and a negative return on equity of 14.90%. Research analysts anticipate that National Steel Company will post 0.05 earnings per share for the current year.

National Steel Company Profile

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.