ZIM Integrated Shipping Services (NYSE:ZIM) Issues Quarterly Earnings Results, Beats Expectations By $1.33 EPS

ZIM Integrated Shipping Services (NYSE:ZIM) released its quarterly earnings results on Monday. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of ($1.01) by $1.33, FiscalAI reports. ZIM Integrated Shipping Services had a net margin of 13.22% and a return on equity of 25.18%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.54 billion.

ZIM Integrated Shipping Services Price Performance

Shares of ZIM opened at $27.83 on Monday. The stock has a market cap of $3.35 billion, a PE ratio of 3.34 and a beta of 1.56. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.22 and a current ratio of 1.30. ZIM Integrated Shipping Services has a fifty-two week low of $11.03 and a fifty-two week high of $29.97. The firm’s 50-day simple moving average is $23.80 and its two-hundred day simple moving average is $18.64.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ZIM shares. Weiss Ratings raised shares of ZIM Integrated Shipping Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 18th. The Goldman Sachs Group reissued a “neutral” rating and issued a $21.00 price target on shares of ZIM Integrated Shipping Services in a research note on Wednesday, January 14th. JPMorgan Chase & Co. reduced their target price on ZIM Integrated Shipping Services from $9.70 to $8.70 and set an “underweight” rating on the stock in a report on Monday, December 1st. Citigroup raised ZIM Integrated Shipping Services from a “sell” rating to a “neutral” rating and increased their target price for the stock from $11.50 to $31.80 in a research report on Thursday, February 19th. Finally, Fearnley Fonds upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.21.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several large investors have recently made changes to their positions in ZIM. Empowered Funds LLC bought a new stake in shares of ZIM Integrated Shipping Services in the 4th quarter worth $3,732,000. Sphera Funds Management LTD. bought a new position in shares of ZIM Integrated Shipping Services during the fourth quarter valued at $2,887,000. Jain Global LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the fourth quarter valued at $437,000. Kovack Advisors Inc. purchased a new stake in shares of ZIM Integrated Shipping Services during the fourth quarter valued at $747,000. Finally, Soviero Asset Management LP bought a new stake in ZIM Integrated Shipping Services in the 4th quarter worth about $3,928,000. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

About ZIM Integrated Shipping Services

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.