ZIM Integrated Shipping Services (NYSE:ZIM) Trading Down 4.9%

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) traded down 4.9% on Thursday . The company traded as low as $22.17 and last traded at $22.27. 3,400,109 shares were traded during mid-day trading, a decline of 44% from the average session volume of 6,069,590 shares. The stock had previously closed at $23.41.

Analyst Ratings Changes

Several brokerages have issued reports on ZIM. JPMorgan Chase & Co. restated an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Barclays boosted their target price on ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. Jefferies Financial Group lowered ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research note on Wednesday. Citigroup lowered ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and boosted their target price for the company from $11.60 to $13.00 in a research note on Thursday, June 6th. Finally, Bank of America lifted their price target on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. Based on data from MarketBeat.com, ZIM Integrated Shipping Services has an average rating of “Reduce” and a consensus price target of $15.44.

ZIM Integrated Shipping Services Stock Performance

The company has a 50-day moving average of $19.69 and a 200 day moving average of $17.41. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $2.61 billion, a PE ratio of -1.04, a PEG ratio of 0.05 and a beta of 1.83.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Monday, August 19th. The company reported $3.08 EPS for the quarter, topping the consensus estimate of $2.07 by $1.01. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the business earned ($1.37) earnings per share. Equities research analysts predict that ZIM Integrated Shipping Services Ltd. will post 10.87 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 29th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 17.14%. The ex-dividend date of this dividend was Thursday, August 29th. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. ZIM Integrated Shipping Services’s payout ratio is -4.35%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its stake in shares of ZIM Integrated Shipping Services by 2,341.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock valued at $43,000 after acquiring an additional 1,850 shares during the last quarter. Mather Group LLC. bought a new position in ZIM Integrated Shipping Services during the 2nd quarter valued at approximately $96,000. Scarborough Advisors LLC bought a new position in ZIM Integrated Shipping Services during the 4th quarter valued at approximately $58,000. Russell Investments Group Ltd. raised its position in ZIM Integrated Shipping Services by 1,431.1% during the 1st quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock valued at $61,000 after purchasing an additional 5,667 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in ZIM Integrated Shipping Services during the 2nd quarter valued at approximately $142,000. Institutional investors 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.