ZIM Integrated Shipping Services (NYSE:ZIM) Shares Up 0.9%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) was up 0.9% on Wednesday . The stock traded as high as $21.36 and last traded at $20.89. Approximately 842,457 shares were traded during trading, a decline of 87% from the average daily volume of 6,499,459 shares. The stock had previously closed at $20.71.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ZIM shares. JPMorgan Chase & Co. decreased their price target on ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating for the company in a report on Friday, March 22nd. Barclays increased their price target on ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the stock an “underweight” rating in a report on Tuesday, May 28th. Jefferies Financial Group reaffirmed a “buy” rating and set a $20.00 price target on shares of ZIM Integrated Shipping Services in a report on Wednesday, May 22nd. Bank of America decreased their price target on ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating for the company in a report on Tuesday, March 19th. Finally, Citigroup downgraded ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and raised their target price for the company from $11.60 to $13.00 in a 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’s stock. According to MarketBeat.com, ZIM Integrated Shipping Services presently has a consensus rating of “Hold” and a consensus target price of $12.01.

ZIM Integrated Shipping Services Price Performance

The business has a 50-day moving average price of $17.80 and a two-hundred day moving average price of $13.66. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.98 and a quick ratio of 0.90.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings results on Tuesday, May 21st. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.34). The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.53 billion. ZIM Integrated Shipping Services had a negative net margin of 47.59% and a negative return on equity of 14.80%. As a group, sell-side analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.42 earnings per share 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 given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date was Tuesday, June 4th. ZIM Integrated Shipping Services’s dividend payout ratio is presently -4.35%.

Institutional Trading of ZIM Integrated Shipping Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its position in ZIM Integrated Shipping Services by 92.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,335 shares of the company’s stock worth $33,000 after purchasing an additional 1,601 shares in the last quarter. Blue Trust Inc. boosted its stake in ZIM Integrated Shipping Services by 604.3% in the 4th quarter. Blue Trust Inc. now owns 4,296 shares of the company’s stock worth $45,000 after buying an additional 3,686 shares during the last quarter. Citigroup Inc. boosted its stake in ZIM Integrated Shipping Services by 77.1% in 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 last quarter. Scarborough Advisors LLC acquired a new stake in ZIM Integrated Shipping Services in the 4th quarter worth about $58,000. Finally, Russell Investments Group Ltd. boosted its stake in ZIM Integrated Shipping Services by 1,431.1% in the 1st quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after buying an additional 5,667 shares during the last quarter. Hedge funds and other institutional investors 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.