ZIM Integrated Shipping Services (ZIM) Suffers a Larger Drop Than the General Market: Key Insights

In the latest trading session, ZIM Integrated Shipping Services (ZIM) closed at $10.80, marking a -1.37% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 1.02% for the day. On the other hand, the Dow registered a loss of 1.04%, and the technology-centric Nasdaq decreased by 1.65%.

Shares of the container shipping company witnessed a loss of 16.92% over the previous month, trailing the performance of the Transportation sector with its gain of 3.22% and the S&P 500's gain of 3.64%.

The investment community will be paying close attention to the earnings performance of ZIM Integrated Shipping Services in its upcoming release. The company is slated to reveal its earnings on March 13, 2024. It is anticipated that the company will report an EPS of -$1.33, marking a 138.66% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.23 billion, down 44.03% from the year-ago period.

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. 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 benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. ZIM Integrated Shipping Services is currently a Zacks Rank #2 (Buy).

Digging into valuation, ZIM Integrated Shipping Services currently has a Forward P/E ratio of 4.94. Its industry sports an average Forward P/E of 7.53, so one might conclude that ZIM Integrated Shipping Services is trading at a discount comparatively.

The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 64, this industry ranks in the top 26% of all industries, numbering over 250.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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