ZIM Integrated Shipping Services (NYSE:ZIM) Posts 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 for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.65), Zacks reports. The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.74 billion. ZIM Integrated Shipping Services had a net margin of 23.37% and a return on equity of 50.61%.

ZIM Integrated Shipping Services Stock Down 1.4%

ZIM stock opened at $16.76 on Thursday. ZIM Integrated Shipping Services has a fifty-two week low of $11.03 and a fifty-two week high of $30.15. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 1.01 and a beta of 1.73. The business’s 50 day moving average price is $14.39 and its two-hundred day moving average price is $15.48. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.11 and a current ratio of 1.20.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ZIM shares. Wall Street Zen cut shares of ZIM Integrated Shipping Services from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. JPMorgan Chase & Co. boosted 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ZIM Integrated Shipping Services in a research note on Wednesday, October 8th. Barclays cut their price target on shares of ZIM Integrated Shipping Services from $14.80 to $13.30 and set an “underweight” rating on the stock in a report on Thursday, August 28th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $15.00 target price on shares of ZIM Integrated Shipping Services in a report on Thursday. Three analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, ZIM Integrated Shipping Services currently has an average rating of “Strong Sell” and an average price target of $14.22.

Institutional Trading of ZIM Integrated Shipping Services

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP bought a new stake in ZIM Integrated Shipping Services during the 3rd quarter valued at about $34,000. Larson Financial Group LLC grew its holdings in shares of ZIM Integrated Shipping Services by 158.8% during the third quarter. Larson Financial Group LLC now owns 3,256 shares of the company’s stock valued at $44,000 after buying an additional 1,998 shares during the last quarter. Triumph Capital Management bought a new stake in shares of ZIM Integrated Shipping Services during the third quarter valued at approximately $44,000. Headlands Technologies LLC purchased a new position in ZIM Integrated Shipping Services in the 2nd quarter worth approximately $97,000. Finally, Rhumbline Advisers lifted 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 valued at $143,000 after acquiring an additional 1,492 shares in the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Company Profile

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.