Companhia Siderúrgica Nacional (NYSE:SID) Upgraded by StockNews.com to Strong-Buy

Companhia Siderúrgica Nacional (NYSE:SID) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

Companhia Siderúrgica Nacional Trading Up 9.3 %

NYSE:SID traded up $0.19 on Tuesday, hitting $2.23. 3,956,381 shares of the stock were exchanged, compared to its average volume of 2,225,601. The stock has a market cap of $3.09 billion, a PE ratio of 24.78, a PEG ratio of 1.66 and a beta of 2.13. Companhia Siderúrgica Nacional has a fifty-two week low of $1.89 and a fifty-two week high of $4.03. The company has a current ratio of 1.29, a quick ratio of 0.89 and a debt-to-equity ratio of 2.56. The stock has a fifty day moving average of $2.14 and a 200-day moving average of $2.49.

Companhia Siderúrgica Nacional (NYSE:SID) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $1.94 billion. As a group, equities analysts expect that Companhia Siderúrgica Nacional will post 0.17 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 made changes to their positions in the business. Banco BTG Pactual S.A. purchased a new position in Companhia Siderúrgica Nacional in the fourth quarter valued at about $1,510,000. Van ECK Associates Corp lifted its position in Companhia Siderúrgica Nacional by 17.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,841,944 shares of the basic materials company’s stock worth $4,236,000 after acquiring an additional 271,176 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Companhia Siderúrgica Nacional by 880.8% in the 1st quarter. BNP Paribas Financial Markets now owns 69,051 shares of the basic materials company’s stock worth $216,000 after acquiring an additional 62,011 shares during the period. Jump Financial LLC purchased a new position in Companhia Siderúrgica Nacional in the 4th quarter worth approximately $51,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Companhia Siderúrgica Nacional in the fourth quarter valued at approximately $114,000.

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.