Companhia Siderúrgica Nacional (NYSE:SID) Shares Gap Down to $2.47

Companhia Siderúrgica Nacional (NYSE:SID) shares gapped down before the market opened on Thursday . The stock had previously closed at $2.47, but opened at $2.37. Companhia Siderúrgica Nacional shares last traded at $2.37, with a volume of 158,123 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Companhia Siderúrgica Nacional from a “strong-buy” rating to a “buy” rating in a research report on Wednesday.

Companhia Siderúrgica Nacional Price Performance

The company has a market capitalization of $3.26 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 0.72 and a beta of 2.13. The company has a quick ratio of 0.89, a current ratio of 1.29 and a debt-to-equity ratio of 2.56. The firm’s 50-day moving average is $2.16 and its 200-day moving average is $2.47.

Companhia Siderúrgica Nacional (NYSE:SID) last released its quarterly earnings results on Monday, August 12th. The basic materials company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.18. The business 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 analysts predict that Companhia Siderúrgica Nacional will post 0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Companhia Siderúrgica Nacional

Several hedge funds and other institutional investors have recently modified their holdings of SID. Inspire Investing LLC bought a new stake in Companhia Siderúrgica Nacional during the second quarter worth about $27,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Companhia Siderúrgica Nacional in the second quarter worth approximately $28,000. Wealthstream Advisors Inc. bought a new position in shares of Companhia Siderúrgica Nacional in the second quarter worth approximately $36,000. Sequoia Financial Advisors LLC bought a new position in shares of Companhia Siderúrgica Nacional in the second quarter worth approximately $38,000. Finally, Headlands Technologies LLC bought a new position in shares of Companhia Siderúrgica Nacional in the second quarter worth approximately $52,000.

Companhia Siderúrgica Nacional Company Profile

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.