Companhia Siderúrgica Nacional (NYSE:SID) Trading Down 3.3% - Here's What Happened

Companhia Siderúrgica Nacional (NYSE:SID - Get Free Report)'s share price was down 3.3% during mid-day trading on Wednesday . The company traded as low as $1.61 and last traded at $1.62. Approximately 1,028,259 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 2,269,545 shares. The stock had previously closed at $1.67.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. StockNews.com downgraded shares of Companhia Siderúrgica Nacional from a "buy" rating to a "hold" rating in a report on Tuesday, December 10th. UBS Group assumed coverage on shares of Companhia Siderúrgica Nacional in a research note on Wednesday, March 12th. They set a "sell" rating and a $1.30 price target on the stock.

Companhia Siderúrgica Nacional Stock Down 1.0 %

The stock has a fifty day simple moving average of $1.59 and a two-hundred day simple moving average of $1.77. The firm has a market cap of $1.90 billion, a PE ratio of -9.57 and a beta of 1.82. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 2.77.

Companhia Siderúrgica Nacional (NYSE:SID - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The basic materials company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. Companhia Siderúrgica Nacional had a negative net margin of 2.37% and a negative return on equity of 5.79%. The company had revenue of $2.06 billion during the quarter, compared to analysts' expectations of $11.85 billion. As a group, sell-side analysts expect that Companhia Siderúrgica Nacional will post -0.02 EPS for the current fiscal year.

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Institutional Investors Weigh In On Companhia Siderúrgica Nacional

A number of institutional investors and hedge funds have recently made changes to their positions in SID. Northern Trust Corp increased its stake in Companhia Siderúrgica Nacional by 2,160.7% in the 4th quarter. Northern Trust Corp now owns 1,584,832 shares of the basic materials company's stock worth $2,282,000 after acquiring an additional 1,514,727 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Companhia Siderúrgica Nacional in the third quarter worth approximately $3,585,000. JPMorgan Chase & Co. raised its stake in Companhia Siderúrgica Nacional by 48,194.9% in the third quarter. JPMorgan Chase & Co. now owns 441,898 shares of the basic materials company's stock valued at $1,056,000 after purchasing an additional 440,983 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Companhia Siderúrgica Nacional by 70.7% during the fourth quarter. BNP Paribas Financial Markets now owns 1,053,204 shares of the basic materials company's stock valued at $1,517,000 after purchasing an additional 436,157 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Companhia Siderúrgica Nacional by 352.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 300,998 shares of the basic materials company's stock worth $719,000 after buying an additional 234,498 shares in the last quarter.

About Companhia Siderúrgica Nacional

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates through five segments: Steel Industry, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as hot and cold rolled, galvanized, galvalume, pre-painted, and metal sheets products; coil, sheets, and derivatives; tiles and derivatives, pipes, and profiles; long steel products; steel packaging solutions for the food industry; chemical packaging solution; and carbochemical products.