Is Zim Integrated Shipping Services Ltd (NYSE: ZIM) Proving The Doubters Wrong?

Zim Integrated Shipping Services Ltd (ZIM) concluded trading on Wednesday at a closing price of $11.19, with 5.65 million shares of worth about $63.26 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 12.80% during that period and on April 3, 2024 the price saw a gain of about 10.03%. Currently the company’s common shares owned by public are about 120.29M shares, out of which, 94.16M shares are available for trading.

However, the stock later moved at a day high price of 11.19, or with a gain of 10.03%. Stock saw a price change of 14.42% in past 5 days and over the past one month there was a price change of 2.19%. Year-to-date (YTD), ZIM shares are showing a performance of 13.37% which decreased to -52.54% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $6.39 but also hit the highest price of $23.83 during that period. The average intraday trading volume for Zim Integrated Shipping Services Ltd shares is 7.40 million. The stock is currently trading 9.56% above its 20-day simple moving average (SMA20), while that difference is down -5.06% for SMA50 and it goes to 0.37% higher than SMA200.

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Zim Integrated Shipping Services Ltd (NYSE: ZIM) currently have 120.29M outstanding shares and institutions hold larger chunk of about 22.42% of that.

The stock has a current market capitalization of $1.35B and its 3Y-monthly beta is at 1.75. It has posted earnings per share of -$22.42 in the same period. It has Quick Ratio of 0.95 while making debt-to-equity ratio of 2.04. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ZIM, volatility over the week remained 5.69% while standing at 5.25% over the month.

Analysts are in expectations that Zim Integrated Shipping Services Ltd (ZIM) stock would likely to be making an EPS of $1.52 in the current quarter, while forecast for next quarter EPS is $0.11 and it is -$4.35 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.76 which is $2.89 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.5 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 95.66% while it is estimated to decrease by -226.80% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on January 29, 2024 offering a Buy rating for the stock and assigned a target price range of between $14 and $20 to it. On September 18, 2023, JP Morgan Upgrade their recommendations, while on April 21, 2023, JP Morgan Downgrade their ratings for the stock with a price target of $20.80. Stock get an Overweight rating from JP Morgan on February 17, 2023.

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