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Why the Market Dipped But ZIM Integrated Shipping Services (ZIM) Gained Today
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In the latest trading session, ZIM Integrated Shipping Services (ZIM - Free Report) closed at $7.50, marking a +1.9% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.81%. At the same time, the Dow lost 0.65%, and the tech-heavy Nasdaq lost 0.95%.
The container shipping company's stock has dropped by 22.85% in the past month, falling short of the Transportation sector's loss of 1.56% and the S&P 500's gain of 1.81%.
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 November 15, 2023. The company is expected to report EPS of -$1.56, down 116.15% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $1.32 billion, reflecting a 59.04% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$5.31 per share and a revenue of $5.21 billion, signifying shifts of -113.85% and -58.51%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for ZIM Integrated Shipping Services. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 12.98% lower. At present, ZIM Integrated Shipping Services boasts a Zacks Rank of #4 (Sell).
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Why the Market Dipped But ZIM Integrated Shipping Services (ZIM) Gained Today
In the latest trading session, ZIM Integrated Shipping Services (ZIM - Free Report) closed at $7.50, marking a +1.9% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.81%. At the same time, the Dow lost 0.65%, and the tech-heavy Nasdaq lost 0.95%.
The container shipping company's stock has dropped by 22.85% in the past month, falling short of the Transportation sector's loss of 1.56% and the S&P 500's gain of 1.81%.
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 November 15, 2023. The company is expected to report EPS of -$1.56, down 116.15% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $1.32 billion, reflecting a 59.04% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$5.31 per share and a revenue of $5.21 billion, signifying shifts of -113.85% and -58.51%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for ZIM Integrated Shipping Services. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 12.98% lower. At present, ZIM Integrated Shipping Services boasts a Zacks Rank of #4 (Sell).
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.