ZIM Integrated Shipping Services (NYSE:ZIM) Posts Earnings Results, Misses Expectations By $1.31 EPS

Key Points

• ZIM Integrated Shipping Services reported a quarterly earnings per share (EPS) of $0.19, significantly missing estimates by $0.73, with a net margin of 26.52% and a return on equity of 63.46%.
• The company's stock experienced a 3.7% decrease in trading following the earnings announcement, opening at $15.5660 with a market capitalization of $1.87 billion.
• ZIM recently declared a dividend of $0.74, yielding an extraordinary 1,696.0%, with a dividend payout ratio of 4.76%.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) announced its earnings results on Wednesday. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $1.50 by ($1.31), Zacks reports. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.84 billion. ZIM Integrated Shipping Services had a return on equity of 63.46% and a net margin of 26.52%.

ZIM Integrated Shipping Services Stock Down 1.1%

Shares of ZIM stock traded down $0.1750 during midday trading on Wednesday, reaching $15.3750. 8,220,869 shares of the stock were exchanged, compared to its average volume of 6,220,467. ZIM Integrated Shipping Services has a 1 year low of $11.03 and a 1 year high of $30.15. The firm has a market cap of $1.85 billion, a PE ratio of 0.78, a price-to-earnings-growth ratio of 0.22 and a beta of 1.75. The company's 50 day moving average is $16.27 and its two-hundred day moving average is $16.72. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 1.16.

ZIM Integrated Shipping Services Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, September 2nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.6%. ZIM Integrated Shipping Services's payout ratio is currently 4.76%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ZIM. Royal Bank of Canada increased its stake in ZIM Integrated Shipping Services by 8.2% during the 1st quarter. Royal Bank of Canada now owns 40,827 shares of the company's stock valued at $596,000 after purchasing an additional 3,102 shares in the last quarter. NewEdge Advisors LLC bought a new position in ZIM Integrated Shipping Services during the first quarter valued at approximately $210,000. Goldman Sachs Group Inc. boosted its holdings in ZIM Integrated Shipping Services by 20.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company's stock worth $68,879,000 after purchasing an additional 788,514 shares during the last quarter. Geode Capital Management LLC boosted its holdings in ZIM Integrated Shipping Services by 5.6% in the second quarter. Geode Capital Management LLC now owns 119,218 shares of the company's stock worth $1,915,000 after purchasing an additional 6,342 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in ZIM Integrated Shipping Services by 505.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 76,738 shares of the company's stock worth $1,236,000 after purchasing an additional 64,057 shares during the period. 21.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ZIM has been the subject of a number of recent research reports. Barclays boosted their target price on ZIM Integrated Shipping Services from $14.20 to $14.80 and gave the stock an "underweight" rating in a research report on Friday, June 27th. Jefferies Financial Group restated a "hold" rating and issued a $17.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday. Clarkson Capital lowered shares of ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 target price on the stock. in a report on Tuesday, May 20th. Finally, Citigroup reissued a "sell" rating on shares of ZIM Integrated Shipping Services in a research note on Monday, August 11th. Two research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat, ZIM Integrated Shipping Services has an average rating of "Strong Sell" and a consensus target price of $14.82.

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.