ZIM Integrated Shipping Services (NYSE:ZIM) Posts Quarterly Earnings Results, Misses Estimates By $0.50 EPS

ZIM Integrated Shipping Services (NYSE:ZIMGet Free Report) issued its quarterly earnings data on Wednesday. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.50), Zacks reports. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.48 billion. ZIM Integrated Shipping Services had a negative return on equity of 0.26% and a net margin of 1.56%.

ZIM Integrated Shipping Services Stock Down 0.1%

Shares of NYSE ZIM opened at $25.14 on Friday. ZIM Integrated Shipping Services has a 52-week low of $12.33 and a 52-week high of $29.97. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.15 and a current ratio of 1.23. The company’s 50 day moving average price is $26.38 and its 200-day moving average price is $23.24. The company has a market capitalization of $3.03 billion, a P/E ratio of 31.04 and a beta of 1.26.

ZIM Integrated Shipping Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Friday, March 20th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 14.0%. The ex-dividend date was Friday, March 20th. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.31. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is 1.51%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

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

Key ZIM Integrated Shipping Services News

Here are the key news stories impacting ZIM Integrated Shipping Services this week:

Analyst Upgrades and Downgrades

ZIM has been the subject of several research reports. Citigroup raised ZIM Integrated Shipping Services from a “sell” rating to a “neutral” rating and raised their price target for the company from $11.50 to $31.80 in a report on Thursday, February 19th. Fearnley Fonds raised shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Barclays boosted their price objective on ZIM Integrated Shipping Services from $13.70 to $15.80 and gave the stock an “underweight” rating in a report on Monday, March 16th. Finally, Weiss Ratings downgraded ZIM Integrated Shipping Services from a “buy (b-)” rating to a “hold (c-)” rating in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $17.83.

Check Out Our Latest Research Report on ZIM

About ZIM Integrated Shipping Services

(Get Free Report)

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.

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Earnings History for ZIM Integrated Shipping Services (NYSE:ZIM)

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