Zim Integrated Stock Up Ahead of Earnings, Retail’s Bullish

Shares of shipping and logistic services company Zim Integrated Shipping Services ($ZIM) were trading up nearly 1% (3:49 pm ET) on Tuesday ahead of the company’s third-quarter earnings, with retail sentiment staying bullish. Wall street analysts expect the company to post Earnings Per Share (EPS) of $6.95 on revenue of $2.39 billion. The company missed estimates twice in the last four quarters. Zim will report Q3 earnings after hours on November 20. In the last quarter, it posted $3.08 in EPS, beating Wall Street estimates by over 60%. Its revenues came in at $1.93 billion, 8.6% above estimates. Retail sentiment on the stock has risen to ‘bullish’ (69/100) compared to ‘neutral’ (51/100) a month ago. The accompanying message volumes have climbed into the ‘high’ zone from ‘low’ in the same period. Zim sentiment meter and message volumes on Nov 19 as of 4:03 pm ET| Source: Stocktwits In October, Jefferies downgraded the stock to ‘Hold’ from ‘Buy,’ while retaining its price target at $25. While Barclays analyst Marco Limite raised the company’s price target to $13.90 from $12.30 but kept an ‘Underweight’ rating on the shares. The Fly.com reported. Some Stockwits users suggested the company was undervalued and were optimistic about its earnings prospects. ZIM stock is up 139% on a year-to-date basis.