Companhia Siderúrgica Nacional (NYSE:SID) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Companhia Siderúrgica Nacional (NYSE:SID) from a buy rating to a hold rating in a report published on Wednesday morning.

Several other equities research analysts also recently commented on SID. Bank of America downgraded Companhia Siderúrgica Nacional from a neutral rating to an underperform rating and reduced their price objective for the stock from $3.90 to $2.90 in a report on Tuesday, April 9th. Itau BBA Securities reiterated an underperform rating and issued a $3.00 price objective on shares of Companhia Siderúrgica Nacional in a report on Thursday, April 4th.

Companhia Siderúrgica Nacional Price Performance

Shares of NYSE:SID opened at $2.33 on Wednesday. Companhia Siderúrgica Nacional has a 1-year low of $2.11 and a 1-year high of $4.03. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.91 and a current ratio of 1.29. The business has a fifty day moving average price of $2.60 and a 200-day moving average price of $3.16.

Companhia Siderúrgica Nacional (NYSE:SID) last issued its quarterly earnings results on Thursday, May 9th. The basic materials company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.19). Companhia Siderúrgica Nacional had a net margin of 1.45% and a return on equity of 3.17%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.10 billion. As a group, analysts anticipate that Companhia Siderúrgica Nacional will post 0.18 EPS for the current year.

Companhia Siderúrgica Nacional Cuts Dividend

The company also recently announced a — dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Friday, January 1st were given a $0.1395 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a yield of 16.6%. Companhia Siderúrgica Nacional’s payout ratio is 300.03%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SID. Lindbrook Capital LLC lifted its position in shares of Companhia Siderúrgica Nacional by 42.7% during the 4th quarter. Lindbrook Capital LLC now owns 9,876 shares of the basic materials company’s stock valued at $39,000 after buying an additional 2,956 shares in the last quarter. Jump Financial LLC purchased a new position in Companhia Siderúrgica Nacional in the 4th quarter worth approximately $51,000. Quadrant Capital Group LLC lifted its holdings in Companhia Siderúrgica Nacional by 28.2% in the 4th quarter. Quadrant Capital Group LLC now owns 13,305 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 2,930 shares in the last quarter. Headlands Technologies LLC purchased a new position in Companhia Siderúrgica Nacional in the 4th quarter worth approximately $54,000. Finally, First Affirmative Financial Network purchased a new position in Companhia Siderúrgica Nacional in the 4th quarter worth approximately $54,000.

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.