|Bid||2.9300 x 1400|
|Ask||3.0200 x 34100|
|Day's Range||2.9000 - 3.0200|
|52 Week Range||1.0200 - 3.7800|
|Beta (5Y Monthly)||1.61|
|PE Ratio (TTM)||4.11|
|Forward Dividend & Yield||0.07 (2.71%)|
|Ex-Dividend Date||May 04, 2020|
|1y Target Est||1.94|
Shares of Brazilian steelmaker Companhia Siderurgica Nacional (NYSE: SID) are starting the day of right Wednesday, rising 9.3% as of noon EDT. This morning, investment bank Credit Suisse made a broad statement of optimism about global steel demand in general, raising its forecasts for steel demand by 7% for next year. Credit Suisse is even more optimistic about demand for steel input iron ore than for steel itself, predicting ore prices will rise between 17% and 30% over the next three years, according to Barron's. But this could be doubly good news for industrial giant Companhia Siderurgica Nacional, which sells a lot of steel ($3.5 billion worth last year) and also a lot of iron ore with which to make the steel ($2.5 billion, according to data from S&P Global Market Intelligence).
4 Steel Producer Stocks Set to Ride the Industry's Upturn
Siderurgica Nacional (SID) is seeing positive earnings estimate revisions, suggesting that it could be a solid choice for investors.