ZIM Shipping Stock Gains Despite Recent Losses and Bleak Earnings Outlook
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ZIM Integrated Shipping Services (ZIM) stock gained 1.9% despite broad market losses.
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ZIM stock has fallen 22.85% over the past month compared to a 1.56% loss for the Transportation sector.
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ZIM is expected to report a 116% EPS decline on 59% lower revenue in its next earnings release on November 15th.
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ZIM's consensus earnings estimate for the full year reflects a 114% EPS decline on 59% lower revenue.
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ZIM currently has a Zacks Rank #4 (Sell) based on recent downward revisions to earnings estimates.