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Oct 23, 2023

Companhia Siderúrgica Nacional (NYSE:SID) Downgraded by StockNews.com to Hold

Companhia Siderúrgica Nacional (NYSE:SID - Get Rating) was downgraded by

Companhia Siderúrgica Nacional (NYSE:SID - Get Rating) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a report issued on Thursday.

Separately, The Goldman Sachs Group downgraded Companhia Siderúrgica Nacional from a "neutral" rating to a "sell" rating in a research note on Friday, April 14th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold".

Shares of NYSE:SID opened at $2.66 on Thursday. The firm has a 50 day simple moving average of $2.78 and a 200 day simple moving average of $2.98. Companhia Siderúrgica Nacional has a 52 week low of $2.20 and a 52 week high of $4.51. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.08 and a current ratio of 1.60. The company has a market cap of $3.69 billion, a PE ratio of -266.00 and a beta of 1.74.

Companhia Siderúrgica Nacional (NYSE:SID - Get Rating) last announced its quarterly earnings data on Wednesday, March 8th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.16). The business had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.20 billion. Companhia Siderúrgica Nacional had a negative return on equity of 0.46% and a negative net margin of 0.24%. As a group, research analysts expect that Companhia Siderúrgica Nacional will post 0.6 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in SID. State Street Corp boosted its position in Companhia Siderúrgica Nacional by 9.4% during the first quarter. State Street Corp now owns 1,491,910 shares of the basic materials company's stock worth $4,716,000 after purchasing an additional 128,030 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Companhia Siderúrgica Nacional during the 1st quarter worth $370,000. Two Sigma Securities LLC grew its stake in Companhia Siderúrgica Nacional by 29.1% in the 1st quarter. Two Sigma Securities LLC now owns 22,032 shares of the basic materials company's stock valued at $68,000 after buying an additional 4,968 shares during the last quarter. Two Sigma Advisers LP raised its holdings in Companhia Siderúrgica Nacional by 843.8% in the 1st quarter. Two Sigma Advisers LP now owns 196,300 shares of the basic materials company's stock worth $603,000 after acquiring an additional 175,500 shares during the period. Finally, Two Sigma Investments LP lifted its position in Companhia Siderúrgica Nacional by 652.2% during the 1st quarter. Two Sigma Investments LP now owns 1,348,715 shares of the basic materials company's stock worth $4,141,000 after acquiring an additional 1,169,415 shares during the last quarter. 1.98% of the stock is owned by institutional investors.

Companhia Siderurgica Nacional engages in the production and sale of integrated steel. It operates through the following segments: Steel, Mining, Cement, Logistics, and Energy. The Steel segment offers flat steel, long steel, metallic containers, and galvanized steel. The Mining segment encompasses the activities of iron ore and tin mining.

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