ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Down 5.5%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price traded down 5.5% during trading on Wednesday . The company traded as low as $21.16 and last traded at $21.29. 2,556,105 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 6,115,475 shares. The stock had previously closed at $22.54.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ZIM. Citigroup cut ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and upped their price objective for the stock from $11.60 to $13.00 in a research note on Thursday, June 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 price target on shares of ZIM Integrated Shipping Services in a research report on Monday. Finally, Barclays raised their price objective on ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 28th. Three investment 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 data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $12.41.

ZIM Integrated Shipping Services Stock Down 3.4 %

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 business’s fifty day moving average price is $19.41 and its two-hundred day moving average price is $15.66. The stock has a market capitalization of $2.62 billion, a PE ratio of -1.01, a price-to-earnings-growth ratio of 0.09 and a beta of 1.85.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.07 by $1.01. ZIM Integrated Shipping Services had a negative return on equity of 14.80% and a negative net margin of 47.59%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the business earned ($1.37) EPS. On average, equities research analysts forecast that ZIM Integrated Shipping Services Ltd. will post 6.26 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 29th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 17.09%. The ex-dividend date of this dividend is Thursday, August 29th. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. ZIM Integrated Shipping Services’s dividend payout ratio is -4.35%.

Institutional Trading of ZIM Integrated Shipping Services

Several institutional investors and hedge funds have recently bought and sold shares of the business. Allianz Asset Management GmbH lifted its position in ZIM Integrated Shipping Services by 1,446.0% during the fourth quarter. Allianz Asset Management GmbH now owns 161,552 shares of the company’s stock valued at $1,595,000 after purchasing an additional 151,102 shares during the period. Private Advisor Group LLC purchased a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter worth about $127,000. Seven Eight Capital LP raised its position in ZIM Integrated Shipping Services by 166.1% during the fourth quarter. Seven Eight Capital LP now owns 83,745 shares of the company’s stock valued at $827,000 after acquiring an additional 52,270 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in ZIM Integrated Shipping Services by 81.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 89,560 shares of the company’s stock valued at $956,000 after buying an additional 40,326 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of ZIM Integrated Shipping Services during the fourth quarter valued at approximately $130,000. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.