ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down to $25.66

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares gapped down prior to trading on Tuesday . The stock had previously closed at $25.66, but opened at $23.98. ZIM Integrated Shipping Services shares last traded at $23.57, with a volume of 1,736,501 shares trading hands.

Analyst Upgrades and Downgrades

ZIM has been the subject of a number of research reports. Bank of America raised their target price on shares of 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. Jefferies Financial Group restated a “buy” rating and set a $22.00 price objective on shares of ZIM Integrated Shipping Services in a research report on Monday, August 19th. Barclays upped their target price on 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. JPMorgan Chase & Co. reissued an “underweight” rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Finally, Citigroup downgraded ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and boosted their price target for the company from $11.60 to $13.00 in a research note on Thursday, June 6th. Four equities research analysts have rated the stock with a sell 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 “Reduce” and an average target price of $14.84.

ZIM Integrated Shipping Services Stock Performance

The stock’s 50-day simple moving average is $19.45 and its 200-day simple moving average is $17.27. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of -1.12, a price-to-earnings-growth ratio of 0.05 and a beta of 1.83. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.41.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $1.01. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.71 billion. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. During the same quarter in the prior year, the business posted ($1.37) earnings per share. Analysts forecast that ZIM Integrated Shipping Services Ltd. will post 10.87 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 29th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 15.50%. The ex-dividend date was Thursday, August 29th. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. ZIM Integrated Shipping Services’s payout ratio is -4.35%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of large investors have recently bought and sold shares of the company. Allianz Asset Management GmbH lifted its holdings in shares of 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 period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of ZIM Integrated Shipping Services in the 2nd quarter valued at $2,343,000. Seven Eight Capital LP increased its stake 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 valued at $827,000 after purchasing an additional 52,270 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of ZIM Integrated Shipping Services by 81.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 89,560 shares of the company’s stock worth $956,000 after buying an additional 40,326 shares in the last quarter. Finally, Y.D. More Investments Ltd bought a new stake in shares of ZIM Integrated Shipping Services during the 2nd quarter worth $790,000. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.