ZIM Integrated Shipping Gets Price Target Cuts By Analysts After Q1 Results

ZIM Integrated Shipping Services Ltd. ZIM reported a loss for the first quarter.

ZIM Integrated Shipping posted quarterly loss of 50 cents per share, versus a year-ago profit of $14.19 per share. The company’s quarterly sales came in at $1.37 billion, versus market expectations of $1.57 billion.

ZIM Integrated Shipping shares fell 16.2% to close at $14.68 on Monday and lost 3.5% in today’s pre-market trading session.

These analysts made changes to their price targets on ZIM Integrated Shipping following earnings announcement.

• Barclays cut the price target on ZIM Integrated Shipping from $15 to $13. Barclays analyst Alexia Dogani maintained an Underweight rating.
• Jefferies slashed the price target on ZIM Integrated Shipping from $20 to $16. Jefferies analyst Omar Nokta maintained a Hold rating.

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