ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Down 6%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) traded down 6% on Wednesday . The company traded as low as $18.72 and last traded at $18.78. 3,531,542 shares changed hands during trading, a decline of 42% from the average session volume of 6,117,227 shares. The stock had previously closed at $19.98.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Bank of America upped their price target on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research report on Wednesday. Jefferies Financial Group reissued a “buy” rating and issued a $22.00 price target on shares of ZIM Integrated Shipping Services in a research note on Monday, August 19th. Citigroup lowered ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and lifted their price objective for the stock from $11.60 to $13.00 in a research note on Thursday, June 6th. Finally, Barclays increased their target price on shares of ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $14.59.

ZIM Integrated Shipping Services Stock Down 3.9 %

The company has a debt-to-equity ratio of 1.41, a current ratio of 1.04 and a quick ratio of 0.97. The stock has a market capitalization of $2.31 billion, a P/E ratio of -0.89, a price-to-earnings-growth ratio of 0.07 and a beta of 1.85. The stock has a fifty day moving average price of $19.60 and a 200 day moving average price of $15.94.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced 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 positive return on equity of 2.89% and a negative net margin of 32.81%. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the business posted ($1.37) earnings per share. On average, research analysts forecast that ZIM Integrated Shipping Services Ltd. will post 7.97 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 29th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 19.36%. 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 (DPR) is -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of large investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH grew its position 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 worth $1,595,000 after acquiring an additional 151,102 shares during the last quarter. Private Advisor Group LLC bought a new stake in ZIM Integrated Shipping Services in the 4th quarter worth $127,000. Seven Eight Capital LP grew its position in shares of ZIM Integrated Shipping Services by 166.1% in the 4th quarter. Seven Eight Capital LP now owns 83,745 shares of the company’s stock worth $827,000 after buying an additional 52,270 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of ZIM Integrated Shipping Services by 81.9% during 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 during the period. Finally, Jump Financial LLC bought a new position in shares of ZIM Integrated Shipping Services during the fourth quarter valued at approximately $130,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

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.