ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Rating) – Jefferies Financial Group reduced their FY2023 earnings per share (EPS) estimates for ZIM Integrated Shipping Services in a note issued to investors on Monday, April 24th. Jefferies Financial Group analyst O. Nokta now forecasts that the company will post earnings per share of ($1.50) for the year, down from their prior forecast of $0.75. Jefferies Financial Group has a "Hold" rating and a $20.00 price objective on the stock. The consensus estimate for ZIM Integrated Shipping Services' current full-year earnings is ($0.69) per share. Jefferies Financial Group also issued estimates for ZIM Integrated Shipping Services' FY2024 earnings at ($0.27) EPS.
Get ZIM Integrated Shipping Services alerts:ZIM Integrated Shipping Services (NYSE:ZIM – Get Rating) last posted its quarterly earnings results on Monday, March 13th. The company reported $3.44 EPS for the quarter, topping analysts' consensus estimates of $2.26 by $1.18. The company had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.06 billion. ZIM Integrated Shipping Services had a return on equity of 87.07% and a net margin of 36.77%. During the same period in the previous year, the firm earned $14.17 EPS.
A number of other research analysts have also weighed in on ZIM. TheStreet upgraded ZIM Integrated Shipping Services from a "d" rating to a "c-" rating in a research report on Tuesday, March 28th. Barclays cut ZIM Integrated Shipping Services from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $26.50 to $15.00 in a report on Monday, February 13th. Finally, JPMorgan Chase & Co. lowered shares of ZIM Integrated Shipping Services from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $27.00 to $20.80 in a research report on Friday, April 21st. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $25.16.
ZIM Integrated Shipping Services Stock Performance
ZIM opened at $16.79 on Wednesday. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 0.44 and a beta of 2.12. ZIM Integrated Shipping Services has a fifty-two week low of $16.23 and a fifty-two week high of $71.40. 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 company has a fifty day moving average of $21.59 and a 200 day moving average of $21.20.
ZIM Integrated Shipping Services Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Friday, March 24th were given a dividend of $6.40 per share. This is a boost from ZIM Integrated Shipping Services's previous quarterly dividend of $2.95. The ex-dividend date of this dividend was Tuesday, April 4th. This represents a $25.60 dividend on an annualized basis and a yield of 152.47%. ZIM Integrated Shipping Services's payout ratio is 66.74%.
Institutional Trading of ZIM Integrated Shipping Services
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZIM. Newbridge Financial Services Group Inc. grew its stake in shares of ZIM Integrated Shipping Services by 333.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 1,300 shares of the company's stock valued at $31,000 after buying an additional 1,000 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in ZIM Integrated Shipping Services in the third quarter worth $35,000. Geneos Wealth Management Inc. bought a new stake in shares of ZIM Integrated Shipping Services during the first quarter worth $112,000. CWM LLC grew its holdings in shares of ZIM Integrated Shipping Services by 1,299.1% in the fourth quarter. CWM LLC now owns 1,553 shares of the company's stock worth $27,000 after purchasing an additional 1,442 shares during the last quarter. Finally, Ellevest Inc. purchased a new position in ZIM Integrated Shipping Services in the 4th quarter worth about $27,000. 36.74% of the stock is owned by hedge funds and other institutional investors.
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.
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