ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Up 2.2%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price traded up 2.2% during mid-day trading on Monday . The stock traded as high as $22.68 and last traded at $22.65. 1,160,449 shares changed hands during trading, a decline of 82% from the average session volume of 6,424,651 shares. The stock had previously closed at $22.17.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. 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 report on Tuesday, March 19th. Jefferies Financial Group reiterated a “buy” rating and set a $20.00 price target on shares of ZIM Integrated Shipping Services in a report on Wednesday, May 22nd. Citigroup lowered ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and lifted their price target for the company from $11.60 to $13.00 in a report on Thursday, June 6th. 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 report on Friday, March 22nd. Finally, Barclays lifted their price target on ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the company an “underweight” rating in a report on Tuesday, May 28th. Three research 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 MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.01.

ZIM Integrated Shipping Services Price Performance

The company has a fifty day moving average of $18.50 and a two-hundred day moving average of $14.05. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 1.49.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Tuesday, May 21st. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.34). ZIM Integrated Shipping Services had a negative return on equity of 14.80% and a negative net margin of 47.59%. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.53 billion. Equities analysts expect that ZIM Integrated Shipping Services Ltd. will post 3.42 earnings per share for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 4th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date was Tuesday, June 4th. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is -4.35%.

Institutional Trading of ZIM Integrated Shipping Services

A number of large investors have recently bought and sold shares of the stock. Cetera Advisors LLC bought a new stake in ZIM Integrated Shipping Services in the first quarter valued at $130,000. Virtu Financial LLC bought a new stake in ZIM Integrated Shipping Services in the first quarter valued at $257,000. Tidal Investments LLC grew its position in ZIM Integrated Shipping Services by 18.4% in the first quarter. Tidal Investments LLC now owns 55,779 shares of the company’s stock valued at $564,000 after acquiring an additional 8,665 shares during the period. California State Teachers Retirement System grew its position in ZIM Integrated Shipping Services by 2.4% in the first quarter. California State Teachers Retirement System now owns 104,767 shares of the company’s stock valued at $1,060,000 after acquiring an additional 2,423 shares during the period. Finally, Axxcess Wealth Management LLC bought a new stake in ZIM Integrated Shipping Services in the first quarter valued at $546,000. 21.42% of the stock is currently owned by institutional investors.

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.