Key Points
- Insider sale: EVP Sami Jubran sold 3,020 ZIM shares at an average price of $29.91, totaling $90,328.20.
- Stock and earnings: ZIM traded near its 52-week high at $29.48, while its latest quarterly EPS of $0.53 missed analysts’ $0.80 estimate; revenue was approximately $1.78 billion.
- Analyst view: Wall Street’s consensus rating remains Hold, with an average price target of $19.83, well below the reported share price.
ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) EVP Sami Jubran sold 3,020 shares of the firm's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $29.91, for a total value of $90,328.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
ZIM Integrated Shipping Services Stock Performance
NYSE:ZIM opened at $29.48 on Friday. The stock has a 50-day simple moving average of $26.29 and a two-hundred day simple moving average of $26.29. ZIM Integrated Shipping Services Ltd. has a 52-week low of $12.33 and a 52-week high of $30.40. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.15 and a current ratio of 1.24. The firm has a market capitalization of $3.55 billion, a PE ratio of 25.63 and a beta of 1.18.
ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its quarterly earnings results on Thursday, August 20th. The company reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.27). ZIM Integrated Shipping Services had a return on equity of 1.11% and a net margin of 2.15%.The company had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.79 billion. Analysts forecast that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current year.
Hedge Funds Weigh In On ZIM Integrated Shipping Services
A number of hedge funds and other institutional investors have recently modified their holdings of ZIM. Value Base Ltd. purchased a new position in shares of ZIM Integrated Shipping Services in the 4th quarter worth approximately $1,316,000. Yelin Lapidot Holdings Management Ltd. lifted its position in ZIM Integrated Shipping Services by 1.2% in the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,308,773 shares of the company's stock worth $86,028,000 after buying an additional 40,000 shares during the last quarter. Sagil Capital LLP bought a new stake in ZIM Integrated Shipping Services in the fourth quarter worth $1,486,000. Weiss Asset Management LP purchased a new position in ZIM Integrated Shipping Services during the first quarter worth $7,283,000. Finally, Global Retirement Partners LLC bought a new position in ZIM Integrated Shipping Services during the second quarter valued at $1,023,000. Institutional investors own 21.42% of the company's stock.
Wall Street Analyst Weigh In
ZIM has been the topic of a number of recent analyst reports. Zacks Research cut shares of ZIM Integrated Shipping Services from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 31st. Barclays raised their price objective on shares of ZIM Integrated Shipping Services from $17.00 to $20.00 and gave the company an "underweight" rating in a research report on Thursday, August 27th. JPMorgan Chase & Co. lifted their target price on shares of ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the company an "underweight" rating in a research note on Tuesday, June 30th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $19.83.
Check Out Our Latest Stock Analysis on ZIM
ZIM Integrated Shipping Services News Roundup
Here are the key news stories impacting ZIM Integrated Shipping Services this week:
- Positive Sentiment: Hapag-Lloyd working to preserve the deal: Hapag-Lloyd and investment firm FIMI are reportedly developing stronger safeguards for ZIM’s Israeli operations after discussions with Israeli officials. The measures could help address approval concerns and improve the likelihood of completing the proposed $35-per-share acquisition. Can New Safeguards Preserve ZIM’s $4.2B Sale?
- Positive Sentiment: Cash takeover supports the stock: The proposed transaction values ZIM’s equity at approximately $4.2 billion and offers shareholders a premium to the pre-deal valuation. The spread between the market price and the offer price reflects both potential upside and the risk that the transaction could be delayed, revised or rejected. ZIM Safeguards and $4.2B Sale
- Neutral Sentiment: Analyst ratings are less relevant after the takeover announcement: ZIM has a consensus “Hold” rating, with one Strong Buy, five Holds and two Sells and an average target price of $19.83. Those targets appear to largely reflect the company as a standalone business and may not incorporate the proposed acquisition. ZIM Receives Consensus Hold Rating
- Negative Sentiment: Insiders reported several sales: Executives Sami Jubran, Saar Dotan, Assaf Tiran and Arik Elimelech, along with director Birger Johanne Meyer-Gloeckner, sold shares recently. The transactions were relatively small, but clustered insider selling near the proposed offer price could weigh on sentiment. ZIM Insider Selling
About ZIM Integrated Shipping Services
(
Get Free Report)
ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.
Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.
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