Siderurgica Nacional (SID) closed the most recent trading day at $3, moving +0.5% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.37%. Elsewhere, the Dow gained 0.42%, while the tech-heavy Nasdaq added 0.56%.
Heading into today, shares of the steelmaker had lost 7.89% over the past month, lagging the Basic Materials sector's gain of 4.48% and the S&P 500's gain of 4.42% in that time.
Investors will be hoping for strength from SID as it approaches its next earnings release. The company is expected to report EPS of -$0.02, down 115.38% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.55 billion, down 0.83% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.46 per share and revenue of $6.36 billion. These totals would mark changes of -51.58% and +7.37%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for SID. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 35.66% lower within the past month. SID is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, SID currently has a Forward P/E ratio of 6.48. This valuation marks a discount compared to its industry's average Forward P/E of 12.62.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 242, putting it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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