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Saturday, September 30, 2023

Companhia Siderurgica Nacional (NYSE:SID) Recent Earnings Shows Major Promise

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Companhia Siderurgica Nacional (SID) shares are trading at higher $4.20 and the avg recommendation for the stock is Hold, while the current analyst price target stands at $2.78.

To add more color to this target, the company’s high over the last year is $4.05 and the low is $1.02. Over the last 52 weeks, SID is up 42.86% while the S&P 500 is up 15.91%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, SID reported a profit of $666.51 million. Companhia Siderurgica Nacional also saw revenues increase to $1.62 billion. In addition, SID has free cash flow of $673.45 million as of 09-2020. The company’s EBITDA came in at $403.24 million which compares well with its peers.

SID booked profit margins of 4.10%, its Return on Equity (ROE) is 18.90%, and its Return on Assets is 2.10%. All told, it is clear that, SID needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. SID has a short ratio of 3.94 and outstanding shares of 1.38B.

Company Outlook

SID has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.27 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.15. Companhia Siderurgica Nacional SID also noted assets of $10.61 billion at the end of the last quarter. Investors should also keep an eye on sector updates as SID has historically followed its peers on positive news.

All told, Companhia Siderurgica Nacional SID has strung together solid data and demonstrated underlying fundamentals. At its current valuation, SID represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Companhia Siderurgica Nacional SID is now commanding a market cap of 6.02B and a float of 649.81M. SID is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of SID stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in SID, either long or short, and we have not been compensated for this article.

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