ZIM Shares Fall 2.42% as Quarterly Earnings Forecasts Rise
The shipping company lagged major indexes, while Zacks consensus estimates point to higher quarterly earnings and revenue than a year earlier.
ZIM Integrated Shipping Services fell 2.42% to $28.49 in its latest trading session, underperforming the S&P 500’s 0.77% decline. The Dow dropped 0.67%, while the Nasdaq fell 0.92%.
Over the past month, ZIM shares gained 6.38%, compared with a 7.07% loss for the Transportation sector and a 0.96% rise for the S&P 500.
Ahead of the company’s upcoming earnings release, Zacks consensus estimates call for quarterly earnings of $4.35 per share, up 326.47% from the same quarter last year. The revenue estimate is $2.36 billion, a 32.7% increase.
For the full year, Zacks estimates earnings of $3.15 per share and revenue of $7.05 billion. Those figures represent increases of 2.27% and 2.09%, respectively, from the prior year. The consensus estimate for quarterly earnings per share has not changed over the past month.
Zacks puts ZIM’s forward price-to-earnings ratio at 9.27, matching the average for its industry.
This article was produced with the help of AI technology.
Source: Yahoo Finance
