ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down to $20.16

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $20.16, but opened at $19.61. ZIM Integrated Shipping Services shares last traded at $19.64, with a volume of 423,145 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ZIM shares. Jefferies Financial Group reissued a “buy” rating and issued a $20.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. cut their price target on shares of ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Bank of America cut their price target on shares of ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating on the stock in a report on Tuesday, March 19th. Barclays lifted their price target on shares of ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the stock an “underweight” rating in a report on Tuesday, May 28th. Finally, Citigroup lowered shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $11.60 to $13.00 in a report on Thursday, June 6th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, ZIM Integrated Shipping Services presently has a consensus rating of “Hold” and an average price target of $12.01.

ZIM Integrated Shipping Services Stock Performance

The company has a debt-to-equity ratio of 1.49, a current ratio of 0.98 and a quick ratio of 0.90. The company has a market capitalization of $2.36 billion, a PE ratio of -0.93, a price-to-earnings-growth ratio of 0.33 and a beta of 1.88. The firm’s fifty day simple moving average is $16.93 and its 200 day simple moving average is $13.28.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.34). The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.53 billion. ZIM Integrated Shipping Services had a negative return on equity of 14.80% and a negative net margin of 47.59%. On average, research analysts predict that ZIM Integrated Shipping Services Ltd. will post 1.88 EPS for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 4th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.68%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently -4.35%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. grew its stake in ZIM Integrated Shipping Services by 12.4% during the 3rd quarter. American Century Companies Inc. now owns 898,491 shares of the company’s stock valued at $9,389,000 after acquiring an additional 99,477 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in ZIM Integrated Shipping Services by 82.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 512,103 shares of the company’s stock valued at $5,054,000 after acquiring an additional 231,955 shares in the last quarter. International Assets Investment Management LLC grew its stake in ZIM Integrated Shipping Services by 1,204.6% during the 4th quarter. International Assets Investment Management LLC now owns 173,712 shares of the company’s stock valued at $17,600,000 after acquiring an additional 160,397 shares in the last quarter. Allianz Asset Management GmbH grew its stake in ZIM Integrated Shipping Services by 1,446.0% during the 4th quarter. Allianz Asset Management GmbH now owns 161,552 shares of the company’s stock valued at $1,595,000 after acquiring an additional 151,102 shares in the last quarter. Finally, Clear Harbor Asset Management LLC grew its stake in ZIM Integrated Shipping Services by 100.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 138,475 shares of the company’s stock valued at $1,367,000 after acquiring an additional 69,445 shares in the last quarter. Institutional investors and hedge funds own 21.42% of the company’s stock.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.