ZIM Integrated Shipping Services (NYSE:ZIM) Shares Down 4.6% – What’s Next?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares traded down 4.6% on Wednesday . The company traded as low as $23.01 and last traded at $23.21. 760,460 shares traded hands during trading, a decline of 88% from the average session volume of 6,107,972 shares. The stock had previously closed at $24.34.

Analysts Set New Price Targets

A number of analysts have commented on ZIM shares. Jefferies Financial Group cut shares of ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research note on Wednesday, October 2nd. Barclays lifted their price target on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the stock an “underweight” rating in a report on Wednesday. Bank of America lifted their target price on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. Based on data from MarketBeat, ZIM Integrated Shipping Services presently has an average rating of “Reduce” and a consensus price target of $15.22.

ZIM Integrated Shipping Services Stock Performance

The company has a fifty day moving average of $20.44 and a two-hundred day moving average of $18.58. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -1.39, a PEG ratio of 0.05 and a beta of 1.86. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.04.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Monday, August 19th. The company reported $3.08 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the company posted ($1.37) earnings per share. As a group, equities research analysts predict that ZIM Integrated Shipping Services Ltd. will post 11.22 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were issued a $0.93 dividend. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. This represents a $3.72 annualized dividend and a yield of 16.42%. The ex-dividend date of this dividend was Thursday, August 29th. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently -5.64%.

Institutional Trading of ZIM Integrated Shipping Services

Several large investors have recently made changes to their positions in ZIM. Susquehanna Fundamental Investments LLC bought a new stake in ZIM Integrated Shipping Services during the second quarter worth $2,343,000. SG Americas Securities LLC lifted its position in shares of ZIM Integrated Shipping Services by 1,226.7% during the 3rd quarter. SG Americas Securities LLC now owns 343,581 shares of the company’s stock worth $8,816,000 after buying an additional 317,684 shares during the last quarter. Millennium Management LLC boosted its stake in ZIM Integrated Shipping Services by 306.7% in the second quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock valued at $9,440,000 after buying an additional 321,100 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position 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 acquiring an additional 40,326 shares during the last quarter. Finally, Y.D. More Investments Ltd bought a new position in shares of ZIM Integrated Shipping Services in the second quarter worth about $790,000. Institutional investors and hedge funds 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.