ZIM Integrated Shipping Services (ZIM) Dips More Than Broader Market: What You Should Know
ZIM Integrated Shipping Services (ZIM) closed the latest trading day at $10.99, indicating a -1.79% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.65%. Meanwhile, the Dow experienced a drop of 0.18%, and the technology-dominated Nasdaq saw a decrease of 1.16%.
Shares of the container shipping company witnessed a loss of 8.35% over the previous month, trailing the performance of the Transportation sector with its gain of 2.19% and the S&P 500's gain of 3.4%.
Investors will be eagerly watching for the performance of ZIM Integrated Shipping Services in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on March 13, 2024. It is anticipated that the company will report an EPS of -$1.33, marking a 138.66% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.23 billion, down 44.03% from the year-ago period.
Investors might also notice recent changes to analyst estimates for ZIM Integrated Shipping Services. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, ZIM Integrated Shipping Services holds a Zacks Rank of #2 (Buy).
Looking at valuation, ZIM Integrated Shipping Services is presently trading at a Forward P/E ratio of 5.05. This denotes a discount relative to the industry's average Forward P/E of 8.12.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 67, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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ZIM Integrated Shipping Services Ltd. (ZIM) : Free Stock Analysis Report
