NEW YORK (TheStreet) --Shares of the National Bank of Greece are down by 2.40% to $1.18 on heavy volume in late afternoon trading on Wednesday, following reports that a senior European Union official said that Greece's negotiations with its international creditors are moving slowly and are nowhere near the point of issuing bailout money. The Greek government has warned that it will run out of money soon if there is no bailout money distributed, which could result in the country defaulting on its debt and possibly an exit from the euro, MarketWatch reports. "Currently, there is some progress but unfortunately those negotiations were in for a slow start, time is short and there is a lot of ground to be covered," Valdis Dombrovskis, the VP of the European Commission in charge of the euro and social dialogue said, according to MarketWatch. Dombrovskis also minimized expectations that an April 24 Eurozone finance ministers meeting in Riga, Latvia will result in significant advances saying the meeting will be a good place to "take stock of the state of negotiations." Separately, TheStreet Ratings team rates NATIONAL BANK OF GREECE as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation: "We rate NATIONAL BANK OF GREECE (NBG) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself." Highlights from the analysis by TheStreet Ratings Team goes as follows: NATIONAL BANK OF GREECE has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has suffered a declining pattern earnings per share over the past two years. During the past fiscal year, NATIONAL BANK OF GREECE reported lower earnings of $0.17 versus $1.98 in the prior year. The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Commercial Banks industry. The net income has significantly decreased by 284.9% when compared to the same quarter one year ago, falling from $760.10 million to -$1,405.19 million. Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Commercial Banks industry and the overall market on the basis of return on equity, NATIONAL BANK OF GREECE underperformed against that of the industry average and is significantly less than that of the S&P 500. Despite any intermediate fluctuations, we have only bad news to report on this stock's performance over the last year: it has tumbled by 77.72%, worse than the S&P 500's performance. Consistent with the plunge in the stock price, the company's earnings per share are down 186.36% compared to the year-earlier quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now. You can view the full analysis from the report here: NBG Ratings Report Must Read: Warren Buffett's Top 25 Stocks for 2015
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