Zim Integrated Shipping Services Ltd’s (NYSE: ZIM) Stock Price Continues To Fall

The trading price of Zim Integrated Shipping Services Ltd (NYSE:ZIM) floating lower at last check on Tuesday, April 02, closing at $10.37, -2.81% lower than its previous close.

In examining the 52-week price action we see that the stock hit a 52-week high of $23.83 and a 52-week low of $6.39. Over the past month, the stock has lost -13.66% in value.

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Zim Integrated Shipping Services Ltd, whose market valuation is $1.25 billion at the time of this writing, is expected to release its quarterly earnings report May 13, 2024 – May 17, 2024. The dividend yield on the company stock is 61.72%, while its Forward Dividend ratio is 6.40. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $1.52 per share this quarter, however they have predicted annual earnings per share of -$1.05 for 2024 and -$4.35 for 2025. It means analysts are expecting annual earnings per share growth of 95.30% this year and -314.30% next year.

Analysts have forecast the company to bring in revenue of $1.58 billion for the current quarter, with the likely lows of $1.42 billion and highs of $1.83 billion. The average estimate suggests sales will likely up by 14.90% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2024 is $5.71 billion. The company’s revenue is forecast to grow by 10.50% over what it did in 2024.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Zim Integrated Shipping Services Ltd No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest ZIM has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 100% Sell.

A quick review shows that ZIM’s price is currently 1.14% off the SMA20 and -12.42% off the SMA50. The RSI metric on the 14-day chart is currently showing 47.05, and weekly volatility stands at 3.93%. When measured over the past 30 days, the indicator reaches 5.20%. Zim Integrated Shipping Services Ltd (NYSE:ZIM)’s beta value is currently sitting at 1.74, while the Average True Range indicator is currently displaying 0.56.

To see how Zim Integrated Shipping Services Ltd stock has been performing today in comparison to its peers in the industry, here are the numbers: ZIM stock’s performance was -2.81% at last check in today’s session, and -56.77% in the past year.

An evaluation of the daily trading volume of Zim Integrated Shipping Services Ltd (NYSE:ZIM) indicates that the 3-month average is 7.51 million. However, this figure has increased over the past 10 days to an average of 2.85 million.

Currently, records show that 120.29 million of the company’s shares remain outstanding. The insiders hold 21.74% of outstanding shares, whereas institutions hold 22.34%. The stats also highlight that short interest as of Mar 15, 2024, stood at 29.22 million shares, resulting in a short ratio of 5.23 at that time. From this, we can conclude that short interest is 24.29% of the company’s total outstanding shares. It is noteworthy that short shares in March were up slightly from the previous month’s figure, which was 26.52 million. However, since the stock’s price has seen 5.07% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.