ZIM Integrated Shipping slides after Q2 earnings miss

Zim Integrated Shipping Services

17/08/2022 16:39

** Israel-based shipping company ZIM Integrated Shipping
Services Ltd's shares  ZIM.N  down 8% at $46.88 after Q2
earnings missed expectations
    ** ZIM reports earnings of $11.07 per share vs analysts'
estimates of $12.84 - Refinitiv data
    ** Co reports rev of $3.43 bln, missing estimates of $3.64
bln  urn:newsml:reuters.com:*:nASA03M2S
    ** Shares set for biggest one-day drop in over three weeks 
    ** Brokerage Jefferies says ZIM maintaining its forecast for
EBITDA is surprising as other liners recently raised their
guidance 
    ** Co also increases its quarterly dividend payout to 30% of
net income from 20%
    ** Two of eight brokerages rate the stock "buy" or higher,
five "hold" and one "sell"; their median PT is $76
    ** Stock down ~20% YTD

 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))