ZIM Integrated Shipping Services (ZIM) closed the most recent trading day at $21.76, moving -2.99% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.84% for the day. Elsewhere, the Dow lost 0.34%, while the tech-heavy Nasdaq lost 1.43%.
The container shipping company's shares have seen an increase of 7.22% over the last month, surpassing the Transportation sector's gain of 6.1% and the S&P 500's gain of 1.8%.
Analysts and investors alike will be keeping a close eye on the performance of ZIM Integrated Shipping Services in its upcoming earnings disclosure. The company is expected to report EPS of -$1.01, down 121.67% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $1.41 billion, indicating a 34.92% decline compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.65 per share and a revenue of $6.83 billion, representing changes of -85.13% and 0%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates 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 business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.96% higher. At present, ZIM Integrated Shipping Services boasts a Zacks Rank of #2 (Buy).
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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 ReportThis article originally published on Zacks Investment Research (zacks.com).
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