ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down to $20.16

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped down before the market opened on Friday . The stock had previously closed at $20.16, but opened at $19.61. ZIM Integrated Shipping Services shares last traded at $19.64, with a volume of 423,145 shares.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ZIM shares. Barclays upped their price target 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. JPMorgan Chase & Co. reduced their price target on ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $20.00 price target on shares of ZIM Integrated Shipping Services in a research report on Wednesday, May 22nd. Bank of America reduced their price target on ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating for the company in a research report on Tuesday, March 19th. Finally, Citigroup downgraded ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and upped their price target for the stock from $11.60 to $13.00 in a research report on Thursday, June 6th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, ZIM Integrated Shipping Services presently has a consensus rating of “Hold” and an average price target of $12.01.

ZIM Integrated Shipping Services Trading Down 2.5 %

The company has a market cap of $2.36 billion, a price-to-earnings ratio of -0.93, a P/E/G ratio of 0.33 and a beta of 1.88. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.90 and a current ratio of 0.98. The firm has a fifty day moving average price of $16.93 and a 200 day moving average price of $13.28.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Tuesday, May 21st. The company reported $0.75 EPS 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 company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.53 billion. As a group, equities analysts predict that ZIM Integrated Shipping Services Ltd. will post 1.88 EPS for the current fiscal year.

ZIM Integrated Shipping Services Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 4th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend was Tuesday, June 4th. ZIM Integrated Shipping Services’s dividend payout ratio is -4.35%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several hedge funds have recently added to or reduced their stakes in ZIM. Hsbc Holdings PLC increased its position in ZIM Integrated Shipping Services by 346.2% during the 3rd quarter. Hsbc Holdings PLC now owns 55,779 shares of the company’s stock worth $586,000 after buying an additional 43,277 shares during the period. Bluefin Capital Management LLC bought a new position in ZIM Integrated Shipping Services during the 3rd quarter worth $340,000. AXQ Capital LP bought a new position in ZIM Integrated Shipping Services during the 3rd quarter worth $358,000. American Century Companies Inc. increased its position in ZIM Integrated Shipping Services by 12.4% during the 3rd quarter. American Century Companies Inc. now owns 898,491 shares of the company’s stock worth $9,389,000 after buying an additional 99,477 shares during the period. Finally, Citigroup Inc. increased its position in ZIM Integrated Shipping Services by 77.1% during the 3rd quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock worth $56,000 after buying an additional 2,352 shares during the period. 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.