ZIM Integrated Shipping Services (NYSE:ZIM) Announces Earnings Results, Misses Expectations By $0.32 EPS

ZIM Integrated Shipping Services (NYSE:ZIM – Get Rating) issued its quarterly earnings results on Monday. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.32), MarketWatch Earnings reports. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.56 billion. ZIM Integrated Shipping Services had a return on equity of 50.43% and a net margin of 27.90%. During the same quarter last year, the business posted $14.19 earnings per share.

ZIM Integrated Shipping Services Price Performance

ZIM Integrated Shipping Services stock traded up $0.11 during midday trading on Wednesday, reaching $14.37. 2,117,815 shares of the stock were exchanged, compared to its average volume of 4,685,708. ZIM Integrated Shipping Services has a 52 week low of $12.95 and a 52 week high of $71.16. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.53 and a current ratio of 1.60. The firm has a market cap of $1.73 billion, a PE ratio of 0.60 and a beta of 2.11. The company’s fifty day moving average is $19.58 and its 200-day moving average is $20.22.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Friday, March 24th were given a dividend of $6.40 per share. The ex-dividend date was Tuesday, April 4th. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.95. This represents a $25.60 annualized dividend and a dividend yield of 178.15%. ZIM Integrated Shipping Services’s dividend payout ratio is currently 108.15%.

Analysts Set New Price Targets

A number of brokerages recently commented on ZIM. JPMorgan Chase & Co. lowered ZIM Integrated Shipping Services from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $27.00 to $20.80 in a report on Friday, April 21st. TheStreet lowered ZIM Integrated Shipping Services from a “c-” rating to a “d+” rating in a report on Wednesday, April 26th. Jefferies Financial Group decreased their target price on ZIM Integrated Shipping Services from $20.00 to $16.00 in a research report on Tuesday. Finally, Barclays decreased their target price on ZIM Integrated Shipping Services from $15.00 to $13.00 in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.96.

Institutional Trading of ZIM Integrated Shipping Services

A number of large investors have recently modified their holdings of the business. Renaissance Technologies LLC increased its position in shares of ZIM Integrated Shipping Services by 166.9% in the first quarter. Renaissance Technologies LLC now owns 4,062,538 shares of the company’s stock worth $295,387,000 after purchasing an additional 2,540,500 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in ZIM Integrated Shipping Services by 25.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,011,500 shares of the company’s stock worth $94,591,000 after buying an additional 804,958 shares in the last quarter. BlackRock Inc. raised its stake in shares of ZIM Integrated Shipping Services by 2.9% during the third quarter. BlackRock Inc. now owns 3,361,309 shares of the company’s stock worth $78,990,000 after acquiring an additional 95,106 shares in the last quarter. State Street Corp raised its stake in shares of ZIM Integrated Shipping Services by 8.7% during the third quarter. State Street Corp now owns 1,338,765 shares of the company’s stock worth $31,461,000 after acquiring an additional 107,225 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of ZIM Integrated Shipping Services by 75.1% during the fourth quarter. Morgan Stanley now owns 1,118,732 shares of the company’s stock worth $19,231,000 after acquiring an additional 479,888 shares in the last quarter. Institutional investors own 36.74% of the company’s stock.

About ZIM Integrated Shipping Services

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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.