Companhia Siderurgica Nacional (NYSE:SID) shares, rose in value on Thursday, May 25, with the stock price down by -1.55% to the previous day’s close as strong demand from buyers drove the stock to $2.54.
Actively observing the price movement in the recent trading, the stock is buoying the session at $2.58, falling within a range of $2.56 and $2.63. The value of beta (5-year monthly) is 1.54. Referring to stock’s 52-week performance, its high was $4.64, and the low was $2.12. On the whole, SID has fluctuated by -5.58% over the past month.
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The company’s Forward Dividend Ratio is 0.64, with its dividend yield at 24.69%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.21, which is expected to increase to $0.19 for fiscal year $0.63 and then to about $0.32 by fiscal year 2024. Data indicates that the EPS growth is expected to be 162.50% in 2024, while the next year’s EPS growth is forecast to be -49.20%.
Analysts have estimated the company’s revenue for the quarter at $2.42 billion, with a low estimate of $2.42 billion and a high estimate of $2.42 billion. According to the average forecast, sales growth in current quarter could jump up 22.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $9.1 billion, representing an increase of 1.70% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that SID’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of SID currently trading nearly -5.75% and -9.90% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 40.07, while the 7-day volatility ratio is showing 2.24% which for the 30-day chart, stands at 3.52%. Furthermore, Companhia Siderurgica Nacional (SID)’s beta value is 1.77, and its average true range (ATR) is 0.11.
A comparison of Companhia Siderurgica Nacional (SID) with its peers suggests the former has fared considerably weaker in the market. SID showed an intraday change of -1.55% in today’s session so far, and over the past year, it shrunk by -38.47%%. In comparison, United States Steel Corporation (X) has moved lower at -0.33% today and is down -13.03% over the past 12 months. On the other hand, the price of Petroleo Brasileiro S.A. – Petrobras (PBR) has fallen -1.17% today. The stock, however, is off -14.47% from where it was a year ago. Additionally, there is a loss of -0.04% for Nucor Corporation (NUE) in recent trading while the stock has seen an overall depriciation of 7.32%% over the past year. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 0.72%. Meanwhile, the Dow Jones Industrial Slipped by -0.15%.
Data on historical trading for Companhia Siderurgica Nacional (NYSE:SID) indicates that the trading volumes over the past 10 days have averaged 3.13 million and over the past 3 months, they’ve averaged 3.56 million. According to company’s latest data on outstanding shares, there are 1.33 billion shares outstanding.
Nearly 54.50% of Companhia Siderurgica Nacional’s shares belong to company insiders and institutional investors own 2.30% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.22 million shares as on May 14, 2023, resulting in a short ratio of 1. According to the data, the short interest in Companhia Siderurgica Nacional (SID) stood at 0.24% of shares outstanding as of May 14, 2023; the number of short shares registered in Apr 13, 2023 reached 2.29 million. The stock has fallen by -4.36% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SID stock heading into the next quarter.
