ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down to $22.73

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped down prior to trading on Friday . The stock had previously closed at $22.73, but opened at $21.74. ZIM Integrated Shipping Services shares last traded at $21.89, with a volume of 816,320 shares trading hands.

Analyst Upgrades and Downgrades

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

ZIM Integrated Shipping Services Stock Down 7.5 %

The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 1.49. The stock has a 50-day moving average of $18.96 and a 200-day moving average of $14.17. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of -1.00, a price-to-earnings-growth ratio of 0.20 and a beta of 1.85.

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 the consensus estimate of $1.09 by ($0.34). ZIM Integrated Shipping Services had a negative net margin of 47.59% and a negative return on equity of 14.80%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.53 billion. As a group, sell-side analysts forecast that ZIM Integrated Shipping Services Ltd. will post 3.42 EPS for the current fiscal year.

ZIM Integrated Shipping Services Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, June 4th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend was Tuesday, June 4th. ZIM Integrated Shipping Services’s dividend payout ratio is currently -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZIM. Cetera Advisors LLC acquired a new position in ZIM Integrated Shipping Services during the first quarter worth about $130,000. Virtu Financial LLC bought a new stake in ZIM Integrated Shipping Services during the first quarter worth approximately $257,000. Tidal Investments LLC grew its position in ZIM Integrated Shipping Services by 18.4% in the first quarter. Tidal Investments LLC now owns 55,779 shares of the company’s stock worth $564,000 after buying an additional 8,665 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of ZIM Integrated Shipping Services by 2.4% during the 1st quarter. California State Teachers Retirement System now owns 104,767 shares of the company’s stock valued at $1,060,000 after acquiring an additional 2,423 shares during the last quarter. Finally, Axxcess Wealth Management LLC bought a new stake in shares of ZIM Integrated Shipping Services during the 1st quarter worth $546,000. 21.42% of the stock is owned by institutional investors.

ZIM Integrated Shipping Services Company Profile

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.