ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) price on Friday, March 17, fall -2.24% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $23.98.
A look at the stock’s price movement, the close in the last trading session was $24.53, moving within a range at $23.68 and $24.86. The beta value (5-Year monthly) was 2.12 while the PE ratio in trailing twelve months stood at 0.49. Turning to its 52-week performance, $91.23 and $16.23 were the 52-week high and 52-week low respectively. Overall, ZIM moved 11.74% over the past month.
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ZIM Integrated Shipping Services Ltd.’s market cap currently stands at around $2.98 billion, with investors looking forward to this quarter’s earnings report slated for May 15, 2023 – May 19, 2023. The company has a Forward Dividend ratio of 30.05, with its dividend yield at 125.31%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $3.05, which has seen fiscal year 2022 EPS growth forecast to increase to $37.31 and about $0.55 for fiscal year 2023. Per the data, EPS growth is expected to be -4.40% for 2023 and -98.50% for the next financial year.
Analysts have a consensus estimate of $2.11 billion for the company’s revenue for the quarter, with a low and high estimate of $1.48 billion and $2.6 billion respectively. The average forecast suggests down to a -39.00% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $12.44 billion, representing a 15.90% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 1 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that ZIM is a 50% Buy. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
ZIM’s current price about 7.02% and 16.66% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 59.82, while 7-day volatility ratio is 8.36% and 5.66% in the 30-day chart. Further, ZIM Integrated Shipping Services Ltd. (ZIM) has a beta value of 0, and an average true range (ATR) of 1.40.
In the market, a comparison of ZIM Integrated Shipping Services Ltd. (ZIM) and its peers suggest the former has performed considerably weaker. Data shows ZIM’s intraday price has changed -2.24% in last session and -72.94% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -1.10% and -1.19% respectively in the last trading.
If we refocus on ZIM Integrated Shipping Services Ltd. (NYSE:ZIM), historical trading data shows that trading volumes averaged 6.1 million over the past 10 days and 4.46 million over the past 3 months. The company’s latest data on shares outstanding shows there are 120.05 million shares.
The 22.01% of ZIM Integrated Shipping Services Ltd.’s shares are in the hands of company insiders while institutional holders own 38.80% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 18.02 million on Jan 12, 2023, giving us a short ratio of 5.06. The data shows that as of Jan 12, 2023 short interest in ZIM Integrated Shipping Services Ltd. (ZIM) stood at 15.01% of shares outstanding, with shares short rising to 15.9 million registered in Dec 14, 2022. Current price change has pushed the stock 39.50% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ZIM stock continues to rise going into the next quarter.