Companhia Siderúrgica Nacional (NYSE:SID) Upgraded at StockNews.com

StockNews.com upgraded shares of Companhia Siderúrgica Nacional (NYSE:SID) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday.

Companhia Siderúrgica Nacional Stock Performance

Shares of Companhia Siderúrgica Nacional stock opened at $2.44 on Tuesday. 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’s fifty day moving average price is $2.14 and its 200-day moving average price is $2.49. The firm has a market cap of $3.39 billion, a P/E ratio of 27.11, a P/E/G ratio of 0.72 and a beta of 2.13. Companhia Siderúrgica Nacional has a 12 month low of $1.89 and a 12 month high of $4.03.

Companhia Siderúrgica Nacional (NYSE:SID) last posted its quarterly earnings results on Monday, August 12th. The basic materials company reported ($0.08) EPS for the quarter, beating the consensus estimate 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 business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $1.94 billion. On average, equities research analysts expect that Companhia Siderúrgica Nacional will post 0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its position in Companhia Siderúrgica Nacional by 51.7% during the second quarter. Renaissance Technologies LLC now owns 1,928,396 shares of the basic materials company’s stock valued at $4,435,000 after purchasing an additional 656,983 shares in the last quarter. American Century Companies Inc. grew its position in shares of Companhia Siderúrgica Nacional by 14.7% in the 2nd quarter. American Century Companies Inc. now owns 1,846,867 shares of the basic materials company’s stock worth $4,248,000 after buying an additional 236,340 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Companhia Siderúrgica Nacional by 17.3% in 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 buying an additional 271,176 shares during the last quarter. Banco BTG Pactual S.A. purchased a new position in shares of Companhia Siderúrgica Nacional in the 4th quarter worth approximately $1,510,000. Finally, Advisors Asset Management Inc. purchased a new position in shares of Companhia Siderúrgica Nacional in the 1st quarter worth approximately $311,000.

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.