ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down After Earnings Miss

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $15.55, but opened at $14.43. ZIM Integrated Shipping Services shares last traded at $15.12, with a volume of 6,558,652 shares traded.

The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($1.31). ZIM Integrated Shipping Services had a return on equity of 63.46% and a net margin of 26.52%.The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.84 billion.

ZIM Integrated Shipping Services Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.6%. ZIM Integrated Shipping Services’s dividend payout ratio is presently 4.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Jefferies Financial Group reissued a “hold” rating and set a $17.00 price target on shares of ZIM Integrated Shipping Services in a report on Wednesday. Citigroup reissued a “sell” rating on shares of ZIM Integrated Shipping Services in a report on Monday, August 11th. Clarkson Capital cut ZIM Integrated Shipping Services from a “buy” rating to a “neutral” rating and set a $20.00 price target on the stock. in a report on Tuesday, May 20th. Finally, Barclays lifted their target price on ZIM Integrated Shipping Services from $14.20 to $14.80 and gave the stock an “underweight” rating in a report on Friday, June 27th. Two investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ZIM Integrated Shipping Services has a consensus rating of “Strong Sell” and a consensus price target of $14.82.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC grew its position in ZIM Integrated Shipping Services by 4.9% in the fourth quarter. Lazard Asset Management LLC now owns 15,443 shares of the company’s stock worth $331,000 after acquiring an additional 722 shares in the last quarter. HUB Investment Partners LLC grew its position in ZIM Integrated Shipping Services by 6.4% in the second quarter. HUB Investment Partners LLC now owns 11,920 shares of the company’s stock worth $192,000 after acquiring an additional 722 shares in the last quarter. Envestnet Asset Management Inc. grew its position in ZIM Integrated Shipping Services by 6.0% in the second quarter. Envestnet Asset Management Inc. now owns 13,786 shares of the company’s stock worth $222,000 after acquiring an additional 776 shares in the last quarter. Aigen Investment Management LP grew its position in ZIM Integrated Shipping Services by 5.4% in the first quarter. Aigen Investment Management LP now owns 16,842 shares of the company’s stock worth $246,000 after acquiring an additional 867 shares in the last quarter. Finally, Regatta Capital Group LLC grew its position in ZIM Integrated Shipping Services by 7.6% in the first quarter. Regatta Capital Group LLC now owns 14,699 shares of the company’s stock worth $214,000 after acquiring an additional 1,040 shares in the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Trading Down 1.1%

The company has a market cap of $1.85 billion, a PE ratio of 0.79, a price-to-earnings-growth ratio of 0.21 and a beta of 1.75. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.18 and a quick ratio of 1.10. The company has a 50-day moving average of $16.24 and a 200 day moving average of $16.71.

About ZIM Integrated Shipping Services

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.