The ZBH stock’s dividend yield for the TTM is 0.93% and its last dividend payment was $0.24 per share. The ZBH last ex-dividend date was September 28th, 2023 and its payout ratio is 39.93%. A low dividend payout ratio indicates that ZBH is confident in its future prospects and has enough cash flow to reinvest in its business.
ZBH’s dividend payments are covered by earnings and cash flows which is a positive sign for its dividend safety and sustainability.
The ZBH stock’s latest quarterly earnings report for the period ending June 2023, the ZBH reported revenue exceeded analysts’ estimates by $43.102 Million (2.36%). Moreover, the ZBH stock reported an EPS of $1.82 for the period ending June 2023, beating the analysts’ estimate of $1.818 by 0.11%. The ZBH next quarter’s revenue is estimated to be $1.749 Billion and the estimated EPS of $1.60, the report will be released on November 07th, 2023.
This quarter, Zimmer Biomet Holdings Inc displayed a revenue of $1.87 Billion, with a net income of $209.70 Million, and a profit margin from the last quarter of 11.22%. This quarter, the reported revenue exceeded analysts’ estimates by $43.102 Million (2.36%).
The ZBH stock has a CMP of $104.30 and an intraday gain of 1.54%. The ZBH stock’s average volume for the last 10 days is 1.78 Million and its current volume is 1.557 Million. The ZBH stock has a float of 208.495 Million shares and a market cap of $21.795 Billion.
ZBH stock’s latest quarterly balance sheet for the period ending June 2023 reported total assets of $21.29 Billion and total liabilities of $8.92 Billion. The ZBH debt-to-assets ratio is at 41.87%.
ZBH Stock Price Technical Analysis in 1-D Timeframe
At the time of publishing, the price of Zimmer Biomet Holdings Inc. (NYSE: ZBH) took support around $32 and rose upward by jumping above 20 EMA. Therefore, if more buying volume assists the ZBH price in surging upwards, the stock may surpass major rejecting levels and EMA’s and may thrust for making new highs.
The MACD indicates an upcoming bullish cross and shows bullishness in ZBH stock as the histogram width is narrow and might be trying to close in each other in the MACD tool. The RSI is at 29.58 and as the curve approaches it crosses 14 SMA which is at 30.42 from below. The indicators in the ZBH stock show positive signs on the charts.
In addition, the stock ratings for ZBH stock are neutral and not highly recommended based on 28 analysts who have evaluated the stock in the last three months. The 1-year price forecasts for ZBH stock by 24 analysts range between $115.00 to $172.00.
According to the Zimmer Biomet Holdings Inc. (NYSE: ZBH) stock’s price action that was displayed on its chart, the ZBH stock price started ascending upwards from the $72 support level in March 2020. It reached a high of $174 in the last week of April 2021, by making a continuous upward break of structures and moving in higher highs and lows pattern, which formed an uptrend.
ZBH stock faced resistance after a strong uptrend and started falling as investors took profits from quarterly reports and dividends. It dropped to $100 by July 2022 and consolidated for three months. In November 2022, ZBH price bounced back but was rejected by a downward trendline resistance. This led to a continuous sell-off and poor performance for ZBH price in the last 24 months.
However, the stock has shown signs of recovery as it is trading at a key support level of around $100 and trying to sustain, where it previously surged and where there is a large order block. There is a high chance that ZBH may rise again if it holds this level.
Therefore, if the Zimmer Biomet stock manages to gain strong buying momentum and surges above the previous swing high, it can shoot a rally upwards. The probable resistance levels are between $113 and $123.
Alternatively, if the ZBH stock faces resistance again and continues to fall below and breaks below $99, it could fall up to $90.
Summary
Zimmer Biomet Holdings Inc. (NYSE: ZBH) chart indicates that the traders and investors of the share price are bullish and positive on the 1-D timeframe. The price action shows a bullish outlook at the time of publishing. The technical analysis tools of the Zimmer Biomet stock price highlight upward signals and support bullishness.
Technical Levels
Support Levels: $99 and $90
Resistance Levels: $113 and $123
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/10/14/zbh-stock-forecast-can-nyse-zbh-break-trendline-resistance/