ZIM Integrated Shipping Services (NYSE:ZIM) Issues Earnings Results, Beats Expectations By $1.18 EPS

Financial News Live · Mar 15, 2023 11:30

ZIM Integrated Shipping Services (NYSE:ZIM – Get Rating) released its earnings results on Monday. The company reported $3.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.26 by $1.18, MarketWatch Earnings reports. ZIM Integrated Shipping Services had a net margin of 42.71% and a return on equity of 118.65%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the company posted $14.17 EPS.

ZIM Integrated Shipping Services Stock Down 0.3 %

NYSE ZIM traded down $0.06 on Wednesday, reaching $22.96. The company had a trading volume of 869,283 shares, compared to its average volume of 4,482,800. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 1.58. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 0.47 and a beta of 2.19. The company's fifty day moving average is $20.37 and its 200-day moving average is $22.92. ZIM Integrated Shipping Services has a 1-year low of $16.23 and a 1-year high of $91.23.

Get ZIM Integrated Shipping Services alerts:

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, March 24th will be paid a dividend of $6.40 per share. This represents a $25.60 dividend on an annualized basis and a yield of 111.50%. This is a boost from ZIM Integrated Shipping Services's previous quarterly dividend of $2.95. The ex-dividend date is Tuesday, April 4th. ZIM Integrated Shipping Services's dividend payout ratio is presently 24.04%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its stake in ZIM Integrated Shipping Services by 166.9% in the 1st quarter. Renaissance Technologies LLC now owns 4,062,538 shares of the company's stock valued at $295,387,000 after purchasing an additional 2,540,500 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of ZIM Integrated Shipping Services by 123.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,433,175 shares of the company's stock worth $249,626,000 after buying an additional 1,897,990 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of ZIM Integrated Shipping Services by 2.9% during the 3rd quarter. BlackRock Inc. now owns 3,361,309 shares of the company's stock worth $78,990,000 after buying an additional 95,106 shares during the period. State Street Corp grew its stake in ZIM Integrated Shipping Services by 8.7% in the 3rd quarter. State Street Corp now owns 1,338,765 shares of the company's stock valued at $31,461,000 after buying an additional 107,225 shares during the last quarter. Finally, Morgan Stanley grew its stake in ZIM Integrated Shipping Services by 75.1% in the 4th quarter. Morgan Stanley now owns 1,118,732 shares of the company's stock valued at $19,231,000 after buying an additional 479,888 shares during the last quarter. Institutional investors and hedge funds own 36.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ZIM. JPMorgan Chase & Co. upgraded ZIM Integrated Shipping Services from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $17.60 to $30.40 in a research report on Friday, February 17th. Barclays lowered ZIM Integrated Shipping Services from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $26.50 to $15.00 in a research report on Monday, February 13th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $20.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Monday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, ZIM Integrated Shipping Services has a consensus rating of "Hold" and a consensus target price of $27.08.

ZIM Integrated Shipping Services Company Profile

(Get Rating)

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.