ZIM Integrated Shipping Services (NYSE:ZIM) Announces Quarterly Earnings Results, Misses Expectations By $0.65 EPS

ZIM Integrated Shipping Services (NYSE:ZIM) released its quarterly earnings results on Thursday. The company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.65), Zacks reports. ZIM Integrated Shipping Services had a net margin of 23.37% and a return on equity of 50.61%. The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.74 billion.

ZIM Integrated Shipping Services Stock Up 4.8%

ZIM Integrated Shipping Services stock opened at $17.56 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.11 and a current ratio of 1.20. ZIM Integrated Shipping Services has a fifty-two week low of $11.03 and a fifty-two week high of $26.11. The company has a market cap of $2.11 billion, a PE ratio of 1.05 and a beta of 1.73. The business’s 50-day simple moving average is $14.39 and its two-hundred day simple moving average is $15.48.

Institutional Trading of ZIM Integrated Shipping Services

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new stake in shares of ZIM Integrated Shipping Services in the third quarter worth $34,000. Larson Financial Group LLC grew its position in ZIM Integrated Shipping Services by 158.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,256 shares of the company’s stock worth $44,000 after purchasing an additional 1,998 shares during the period. Triumph Capital Management purchased a new position in ZIM Integrated Shipping Services during the third quarter valued at approximately $44,000. Headlands Technologies LLC acquired a new position in ZIM Integrated Shipping Services in the second quarter valued at approximately $97,000. Finally, Rhumbline Advisers boosted its position in ZIM Integrated Shipping Services by 16.5% in the 3rd quarter. Rhumbline Advisers now owns 10,519 shares of the company’s stock worth $143,000 after purchasing an additional 1,492 shares in the last quarter. 21.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZIM has been the subject of several recent research reports. Jefferies Financial Group reiterated a “hold” rating and issued a $15.00 price target on shares of ZIM Integrated Shipping Services in a research report on Thursday. Barclays cut their target price on ZIM Integrated Shipping Services from $14.80 to $13.30 and set an “underweight” rating on the stock in a research note on Thursday, August 28th. JPMorgan Chase & Co. upped their price objective on ZIM Integrated Shipping Services from $9.80 to $10.00 and gave the company an “underweight” rating in a research report on Tuesday, September 30th. Citigroup reissued a “sell” rating on shares of ZIM Integrated Shipping Services in a research note on Monday, August 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ZIM Integrated Shipping Services in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Strong Sell” and an average target price of $14.22.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.