ZIM Integrated Shipping Services (NYSE:ZIM) Trading Down 1.2%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares dropped 1.2% during mid-day trading on Friday . The stock traded as low as $19.85 and last traded at $20.16. Approximately 1,497,028 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 6,003,070 shares. The stock had previously closed at $20.41.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ZIM shares. Barclays raised their price objective on ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. Jefferies Financial Group restated a “buy” rating and issued a $22.00 price target on shares of ZIM Integrated Shipping Services in a report on Monday, August 19th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Citigroup lowered shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and lifted their target price for the company from $11.60 to $13.00 in a report on Thursday, June 6th. Finally, Bank of America increased their price target on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Four research analysts have rated the stock with a sell rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $14.84.

ZIM Integrated Shipping Services Trading Down 2.6 %

The business’s 50-day moving average price is $18.61 and its 200 day moving average price is $16.54. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -0.95, a PEG ratio of 0.04 and a beta of 1.83. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.04 and a quick ratio of 0.97.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings data on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $1.01. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the company posted ($1.37) EPS. On average, equities analysts forecast that ZIM Integrated Shipping Services Ltd. will post 10.87 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 29th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 18.71%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, August 29th. ZIM Integrated Shipping Services’s dividend payout ratio is presently -4.35%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. grew its holdings in 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 worth $43,000 after buying an additional 1,850 shares in the last quarter. Scarborough Advisors LLC bought a new position in shares of ZIM Integrated Shipping Services in the fourth quarter valued at approximately $58,000. Russell Investments Group Ltd. lifted its position in ZIM Integrated Shipping Services by 1,431.1% in the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after purchasing an additional 5,667 shares during the period. Mather Group LLC. bought a new stake in shares of ZIM Integrated Shipping Services in the 2nd quarter worth $96,000. Finally, Private Advisor Group LLC acquired a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter valued at $127,000. 21.42% of the stock is currently owned by institutional investors.

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.