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Here's Why ZIM Integrated Shipping Services (ZIM) Fell More Than Broader Market
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ZIM Integrated Shipping Services (ZIM - Free Report) closed the latest trading day at $12.45, indicating a -0.72% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.17%. Meanwhile, the Dow experienced a drop of 0.06%, and the technology-dominated Nasdaq saw a decrease of 0.55%.
Shares of the container shipping company have depreciated by 15.44% over the course of the past month, underperforming the Transportation sector's gain of 3.07% and the S&P 500's gain of 3.98%.
The upcoming earnings release of ZIM Integrated Shipping Services will be of great interest to investors. The company's earnings report is expected on March 13, 2024. In that report, analysts expect ZIM Integrated Shipping Services to post earnings of -$1.33 per share. This would mark a year-over-year decline of 138.66%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.23 billion, indicating a 44.03% decrease compared to the same quarter of the previous year.
Investors should also note any recent changes to analyst estimates for ZIM Integrated Shipping Services. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 211.31% higher. ZIM Integrated Shipping Services is currently sporting a Zacks Rank of #2 (Buy).
Looking at valuation, ZIM Integrated Shipping Services is presently trading at a Forward P/E ratio of 5.66. This valuation marks a discount compared to its industry's average Forward P/E of 7.57.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% 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.
To follow ZIM in the coming trading sessions, be sure to utilize Zacks.com.
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Here's Why ZIM Integrated Shipping Services (ZIM) Fell More Than Broader Market
ZIM Integrated Shipping Services (ZIM - Free Report) closed the latest trading day at $12.45, indicating a -0.72% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.17%. Meanwhile, the Dow experienced a drop of 0.06%, and the technology-dominated Nasdaq saw a decrease of 0.55%.
Shares of the container shipping company have depreciated by 15.44% over the course of the past month, underperforming the Transportation sector's gain of 3.07% and the S&P 500's gain of 3.98%.
The upcoming earnings release of ZIM Integrated Shipping Services will be of great interest to investors. The company's earnings report is expected on March 13, 2024. In that report, analysts expect ZIM Integrated Shipping Services to post earnings of -$1.33 per share. This would mark a year-over-year decline of 138.66%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.23 billion, indicating a 44.03% decrease compared to the same quarter of the previous year.
Investors should also note any recent changes to analyst estimates for ZIM Integrated Shipping Services. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 211.31% higher. ZIM Integrated Shipping Services is currently sporting a Zacks Rank of #2 (Buy).
Looking at valuation, ZIM Integrated Shipping Services is presently trading at a Forward P/E ratio of 5.66. This valuation marks a discount compared to its industry's average Forward P/E of 7.57.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% 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.
To follow ZIM in the coming trading sessions, be sure to utilize Zacks.com.