Companhia Siderúrgica Nacional (NYSE:SID) Downgraded by StockNews.com to “Buy”

StockNews.com cut shares of Companhia Siderúrgica Nacional (NYSE:SID) from a strong-buy rating to a buy rating in a research report released on Wednesday.

Companhia Siderúrgica Nacional Price Performance

SID opened at $2.32 on Wednesday. The firm has a market capitalization of $3.21 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 0.72 and a beta of 2.13. The company has a debt-to-equity ratio of 2.56, a current ratio of 1.29 and a quick ratio of 0.89. The business’s 50-day moving average is $2.17 and its two-hundred day moving average is $2.47. Companhia Siderúrgica Nacional has a 1 year low of $1.89 and a 1 year high of $4.03.

Companhia Siderúrgica Nacional (NYSE:SID) last issued its quarterly earnings data on Monday, August 12th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.18. Companhia Siderúrgica Nacional had a negative net margin of 0.34% and a negative return on equity of 0.79%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $1.94 billion. Research analysts anticipate that Companhia Siderúrgica Nacional will post 0.38 earnings per share for the current fiscal year.

Institutional Trading of Companhia Siderúrgica Nacional

Several large investors have recently bought and sold shares of SID. Renaissance Technologies LLC lifted its stake in Companhia Siderúrgica Nacional by 51.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,928,396 shares of the basic materials company’s stock valued at $4,435,000 after acquiring an additional 656,983 shares during the period. Van ECK Associates Corp lifted its position in Companhia Siderúrgica Nacional by 17.3% during the second 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. boosted its holdings in Companhia Siderúrgica Nacional by 14.7% in the second quarter. American Century Companies Inc. now owns 1,846,867 shares of the basic materials company’s stock valued at $4,248,000 after purchasing an additional 236,340 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in Companhia Siderúrgica Nacional during the 1st quarter worth about $311,000. Finally, SG Americas Securities LLC purchased a new position in shares of Companhia Siderúrgica Nacional during the 2nd quarter valued at about $153,000.

About Companhia Siderúrgica Nacional

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates through five segments: Steel, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as high, medium, low carbon, micro-alloyed, ultra-low-carbon, and interstitial free slabs; hot-rolled products, including heavy and light-gauge hot-rolled coils and sheets; cold-rolled products comprising cold-rolled coils and sheets; galvanized products; tin mill products consisting of flat-rolled low-carbon steel coils or sheets; and profiles, channels, UPE sections, and steel sleepers for the distribution, packaging, automotive, home appliance, and construction industries.