National Steel (NYSE:SID) Shares Gap Up – Should You Buy?

National Steel Company (NYSE:SID)’s share price gapped up prior to trading on Monday. The stock had previously closed at $1.16, but opened at $1.29. National Steel shares last traded at $1.2950, with a volume of 7,606,607 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SID shares. Wall Street Zen lowered shares of National Steel from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Zacks Research downgraded National Steel from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of National Steel in a research note on Monday, September 14th. Three investment analysts have rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Strong Sell” and an average price target of $1.40.

National Steel Stock Performance

The company’s 50-day moving average price is $1.07 and its two-hundred day moving average price is $1.15. The company has a market cap of $1.64 billion, a P/E ratio of -3.63 and a beta of 1.55. The company has a current ratio of 1.15, a quick ratio of 0.79 and a debt-to-equity ratio of 2.96.

National Steel (NYSE:SID) last released its earnings results on Thursday, August 13th. The basic materials company reported ($0.12) EPS for the quarter, hitting analysts’ consensus estimates of ($0.12). National Steel had a negative net margin of 5.26% and a negative return on equity of 14.90%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.13 billion. As a group, equities analysts forecast that National Steel Company will post -0.02 earnings per share for the current year.

National Steel Company Profile

Companhia Siderúrgica Nacional, commonly known as CSN or National Steel, is a Brazilian industrial company engaged primarily in the production and sale of steel. Its product portfolio includes flat steel, long steel, galvanized steel and tinplate products, which serve customers in industries such as construction, automotive manufacturing, packaging and general manufacturing.

CSN also operates businesses that support its steel activities, including iron ore mining, cement production and logistics.