Zim Integrated Shipping Services Ltd [NYSE: ZIM] stock went on an upward path that rose over 2.59% on Thursday, amounting to a one-week price decrease of less than -4.72%. The company report on March 13, 2024 at 7:00 AM that ZIM Reports Financial Results for the Fourth Quarter and the Full Year of 2023.
Full Year 2023 Revenue of $5,162 Million and Net Loss of $2,688 Million1.
Adjusted EBITDA and Adjusted EBIT in Line with Guidance: Adjusted EBITDA2 of $1,049 Million and Adjusted EBIT2 Loss of $422 Million.
Over the last 12 months, ZIM stock dropped by -46.58%. The one-year Zim Integrated Shipping Services Ltd stock forecast points to a potential downside of -9.98. The average equity rating for ZIM stock is currently 3.38, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.29 billion, with 120.29 million shares outstanding and 94.18 million shares in the current float. Compared to the average trading volume of 6.26M shares, ZIM stock reached a trading volume of 2386066 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Zim Integrated Shipping Services Ltd [ZIM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ZIM shares is $9.72 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ZIM stock is a recommendation set at 3.38. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for Zim Integrated Shipping Services Ltd shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 29, 2024. The new note on the price target was released on November 17, 2023, representing the official price target for Zim Integrated Shipping Services Ltd stock. Previously, the target price had yet another raise to $15.40, while JP Morgan analysts kept a Overweight rating on ZIM stock. On April 21, 2023, analysts decreased their price target for ZIM shares from 27 to 20.80.
The Average True Range (ATR) for Zim Integrated Shipping Services Ltd is set at 0.56, with the Price to Sales ratio for ZIM stock in the period of the last 12 months amounting to 0.25. The Price to Book ratio for the last quarter was 0.52, with the Price to Cash per share for the same quarter was set at 14.92. Price to Free Cash Flow for ZIM in the course of the last twelve months was 2.55 with Quick ratio for the last quarter at 0.95.
ZIM Stock Performance Analysis:
Zim Integrated Shipping Services Ltd [ZIM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.72. With this latest performance, ZIM shares dropped by -8.32% in over the last four-week period, additionally plugging by 10.66% over the last 6 months – not to mention a drop of -46.58% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ZIM stock in for the last two-week period is set at 49.98, with the RSI for the last a single of trading hit 52.55, and the three-weeks RSI is set at 48.70 for Zim Integrated Shipping Services Ltd [ZIM]. The present Moving Average for the last 50 days of trading for this stock 11.36, while it was recorded at 10.72 for the last single week of trading, and 11.09 for the last 200 days.
Insight into Zim Integrated Shipping Services Ltd Fundamentals:
Zim Integrated Shipping Services Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.95 and a Current Ratio set at 1.02.
ZIM Stock EPS
With the latest financial reports released by the company, Zim Integrated Shipping Services Ltd posted -0.5/share EPS, while the average EPS was predicted by analysts to be reported at 0/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ZIM.
Zim Integrated Shipping Services Ltd [ZIM] Institutonal Ownership Details
The top three institutional holders of ZIM stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ZIM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ZIM stock with ownership which is approximately 5.8386%.
