ZIM Integrated Shipping Services (NYSE:ZIM) Posts Earnings Results

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) released 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. ZIM Integrated Shipping Services had a net margin of 23.37% and a return on equity of 50.61%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.84 billion.

ZIM Integrated Shipping Services Stock Performance

NYSE:ZIM traded down $0.2110 during trading hours on Monday, reaching $14.1590. The stock had a trading volume of 2,863,469 shares, compared to its average volume of 6,253,983. The stock has a market cap of $1.70 billion, a P/E ratio of 0.85, a price-to-earnings-growth ratio of 0.19 and a beta of 1.75. ZIM Integrated Shipping Services has a 12-month low of $11.03 and a 12-month high of $30.15. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.11 and a current ratio of 1.20. The stock has a 50 day simple moving average of $16.14 and a 200 day simple moving average of $16.65.

ZIM Integrated Shipping Services Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, September 2nd will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.7%. ZIM Integrated Shipping Services's dividend payout ratio is currently 5.59%.

Wall Street Analyst Weigh In

ZIM has been the subject of a number of recent research reports. Clarkson Capital cut ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 target price for the company. in a report on Tuesday, May 20th. Jefferies Financial Group restated a "hold" rating and set a $17.00 target price on shares of ZIM Integrated Shipping Services in a research report on Wednesday, August 20th. Citigroup reissued a "sell" rating on shares of ZIM Integrated Shipping Services in a research note on Monday, August 11th. JPMorgan Chase & Co. increased their target price on shares of ZIM Integrated Shipping Services from $9.50 to $9.80 and gave the stock an "underweight" rating in a research note on Friday. Finally, Wall Street Zen lowered ZIM Integrated Shipping Services from a "hold" rating to a "sell" rating in a report on Friday. Two equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Strong Sell" and a consensus price target of $14.88.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several large investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. bought a new stake in ZIM Integrated Shipping Services during the second quarter valued at $453,000. Advisory Services Network LLC lifted its stake in shares of ZIM Integrated Shipping Services by 22.0% in the 2nd quarter. Advisory Services Network LLC now owns 39,742 shares of the company's stock valued at $630,000 after acquiring an additional 7,169 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of ZIM Integrated Shipping Services in the 2nd quarter valued at about $97,000. Tower Research Capital LLC TRC lifted its stake in shares of ZIM Integrated Shipping Services by 362.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,468 shares of the company's stock valued at $217,000 after acquiring an additional 10,555 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in shares of ZIM Integrated Shipping Services in the 2nd quarter valued at about $650,000. Institutional investors own 21.42% of the company's stock.

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.