ZIM Integrated Shipping Services (NYSE:ZIM) Sees Unusually-High Trading Volume Following Earnings Beat

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) saw unusually-strong trading volume on Wednesday following a stronger than expected earnings report. Approximately 4,200,885 shares traded hands during mid-day trading, a decline of 23% from the previous session’s volume of 5,489,504 shares.The stock last traded at $18.89 and had previously closed at $20.31.

The company reported $4.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $1.19. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%.

Wall Street Analysts Forecast Growth

ZIM has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their target price on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a research note on Friday, March 7th. Barclays lowered their price target on ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. Fearnley Fonds downgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $18.00 target price on shares of ZIM Integrated Shipping Services in a research report on Wednesday. Five analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.04.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC raised its position in shares of ZIM Integrated Shipping Services by 467.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,974 shares of the company’s stock worth $76,000 after purchasing an additional 2,450 shares during the period. Janney Montgomery Scott LLC raised its position in shares of ZIM Integrated Shipping Services by 2.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 44,292 shares of the company’s stock worth $1,137,000 after purchasing an additional 915 shares during the period. Van ECK Associates Corp raised its position in shares of ZIM Integrated Shipping Services by 1.6% during the 3rd quarter. Van ECK Associates Corp now owns 38,079 shares of the company’s stock worth $977,000 after purchasing an additional 591 shares during the period. Sigma Planning Corp raised its position in shares of ZIM Integrated Shipping Services by 6.6% during the 3rd quarter. Sigma Planning Corp now owns 37,568 shares of the company’s stock worth $964,000 after purchasing an additional 2,317 shares during the period. Finally, Entropy Technologies LP raised its position in shares of ZIM Integrated Shipping Services by 55.7% during the 3rd quarter. Entropy Technologies LP now owns 61,553 shares of the company’s stock worth $1,579,000 after purchasing an additional 22,009 shares during the period. Institutional investors and hedge funds own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Price Performance

The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The business has a 50-day moving average price of $19.33 and a two-hundred day moving average price of $20.62. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 1.58, a PEG ratio of 0.27 and a beta of 1.70.

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.