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

ZIM Integrated Shipping Services (NYSE:ZIM) announced its 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 return on equity of 50.61% and a net margin of 23.37%.The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.74 billion.

ZIM Integrated Shipping Services Stock Down 0.2%

NYSE:ZIM opened at $16.72 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.11 and a debt-to-equity ratio of 1.20. The stock has a 50 day moving average of $14.46 and a 200-day moving average of $15.49. The firm has a market capitalization of $2.01 billion, a PE ratio of 1.00 and a beta of 1.73. ZIM Integrated Shipping Services has a 52 week low of $11.03 and a 52 week high of $26.11.

ZIM Integrated Shipping Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, December 1st will be paid a $0.31 dividend. The ex-dividend date is Monday, December 1st. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.06. This represents a $1.24 dividend on an annualized basis and a yield of 7.4%. ZIM Integrated Shipping Services’s payout ratio is presently 1.44%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its position in ZIM Integrated Shipping Services by 29,305.7% in the second quarter. BNP Paribas Financial Markets now owns 1,310,614 shares of the company’s stock worth $21,088,000 after buying an additional 1,306,157 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of ZIM Integrated Shipping Services by 20.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock valued at $68,879,000 after acquiring an additional 788,514 shares during the period. Man Group plc grew its position in shares of ZIM Integrated Shipping Services by 5,075.5% during the second quarter. Man Group plc now owns 735,546 shares of the company’s stock worth $11,835,000 after acquiring an additional 721,334 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of ZIM Integrated Shipping Services by 27.8% in the 3rd quarter. Bank of America Corp DE now owns 1,416,871 shares of the company’s stock worth $19,199,000 after acquiring an additional 307,855 shares during the period. Finally, Barclays PLC lifted its position in ZIM Integrated Shipping Services by 786.0% in the 3rd quarter. Barclays PLC now owns 214,176 shares of the company’s stock valued at $2,902,000 after purchasing an additional 190,002 shares during the last quarter. 21.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on ZIM shares. Citigroup reissued a “sell” rating on shares of ZIM Integrated Shipping Services in a report on Monday, August 11th. Jefferies Financial Group reiterated a “hold” rating and set a $15.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on ZIM Integrated Shipping Services from $9.80 to $10.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 30th. Wall Street Zen cut ZIM Integrated Shipping Services from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Finally, Barclays decreased their target price on ZIM Integrated Shipping Services from $14.80 to $13.30 and set an “underweight” rating for the company in a research report on Thursday, August 28th. Three analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Strong Sell” and a consensus target price of $14.22.

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.