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ZIM Integrated Shipping Services (ZIM) Falls More Steeply Than Broader Market: What Investors Need to Know
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ZIM Integrated Shipping Services (ZIM - Free Report) ended the recent trading session at $18.50, demonstrating a -1.18% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.77%. Elsewhere, the Dow lost 0.6%, while the tech-heavy Nasdaq lost 1.05%.
Shares of the container shipping company witnessed a loss of 3.51% over the previous month, beating the performance of the Transportation sector with its loss of 19.69% and the S&P 500's loss of 5.85%.
The investment community will be closely monitoring the performance of ZIM Integrated Shipping Services in its forthcoming earnings report. The company is scheduled to release its earnings on August 19, 2024. On that day, ZIM Integrated Shipping Services is projected to report earnings of $1.19 per share, which would represent year-over-year growth of 186.86%. Simultaneously, our latest consensus estimate expects the revenue to be $1.59 billion, showing a 21.32% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.26 per share and a revenue of $6.28 billion, representing changes of +223.47% and +21.64%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for ZIM Integrated Shipping Services. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an 82.63% increase. ZIM Integrated Shipping Services presently features a Zacks Rank of #2 (Buy).
Looking at valuation, ZIM Integrated Shipping Services is presently trading at a Forward P/E ratio of 2.99. For comparison, its industry has an average Forward P/E of 7.65, which means ZIM Integrated Shipping Services is trading at a discount to the group.
It is also worth noting that ZIM currently has a PEG ratio of 0.09. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Transportation - Shipping industry held an average PEG ratio of 1.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 179, finds itself in the bottom 30% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ZIM in the coming trading sessions, be sure to utilize Zacks.com.
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ZIM Integrated Shipping Services (ZIM) Falls More Steeply Than Broader Market: What Investors Need to Know
ZIM Integrated Shipping Services (ZIM - Free Report) ended the recent trading session at $18.50, demonstrating a -1.18% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.77%. Elsewhere, the Dow lost 0.6%, while the tech-heavy Nasdaq lost 1.05%.
Shares of the container shipping company witnessed a loss of 3.51% over the previous month, beating the performance of the Transportation sector with its loss of 19.69% and the S&P 500's loss of 5.85%.
The investment community will be closely monitoring the performance of ZIM Integrated Shipping Services in its forthcoming earnings report. The company is scheduled to release its earnings on August 19, 2024. On that day, ZIM Integrated Shipping Services is projected to report earnings of $1.19 per share, which would represent year-over-year growth of 186.86%. Simultaneously, our latest consensus estimate expects the revenue to be $1.59 billion, showing a 21.32% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.26 per share and a revenue of $6.28 billion, representing changes of +223.47% and +21.64%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for ZIM Integrated Shipping Services. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an 82.63% increase. ZIM Integrated Shipping Services presently features a Zacks Rank of #2 (Buy).
Looking at valuation, ZIM Integrated Shipping Services is presently trading at a Forward P/E ratio of 2.99. For comparison, its industry has an average Forward P/E of 7.65, which means ZIM Integrated Shipping Services is trading at a discount to the group.
It is also worth noting that ZIM currently has a PEG ratio of 0.09. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Transportation - Shipping industry held an average PEG ratio of 1.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 179, finds itself in the bottom 30% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ZIM in the coming trading sessions, be sure to utilize Zacks.com.