ZIM Integrated Shipping Services (NYSE:ZIM) Trading Down 4.9%

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) traded down 4.9% on Thursday . The company traded as low as $22.17 and last traded at $22.27. 3,400,109 shares traded hands during trading, a decline of 44% from the average session volume of 6,069,590 shares. The stock had previously closed at $23.41.

Wall Street Analysts Forecast Growth

ZIM has been the topic of several recent research reports. Bank of America upped their price target 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. Barclays increased their target price on ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Jefferies Financial Group cut ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a report on Wednesday. Finally, Citigroup cut ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and raised their target price for the stock from $11.60 to $13.00 in a report on Thursday, June 6th. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $15.44.

ZIM Integrated Shipping Services Trading Down 7.3 %

The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.41. The stock has a fifty day simple moving average of $19.69 and a 200 day simple moving average of $17.41. The firm has a market capitalization of $2.61 billion, a P/E ratio of -1.04, a PEG ratio of 0.05 and a beta of 1.83.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings results on Monday, August 19th. The company reported $3.08 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $1.01. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations 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 period last year, the firm earned ($1.37) earnings per share. As a group, research analysts forecast that ZIM Integrated Shipping Services Ltd. will post 10.87 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were issued a dividend of $0.93 per share. The ex-dividend date was Thursday, August 29th. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. This represents a $3.72 dividend on an annualized basis and a yield of 17.14%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently -4.35%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its position in ZIM Integrated Shipping Services by 2,341.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock worth $43,000 after acquiring an additional 1,850 shares in the last quarter. Scarborough Advisors LLC purchased a new position in ZIM Integrated Shipping Services in the fourth quarter worth about $58,000. Russell Investments Group Ltd. grew its position in ZIM Integrated Shipping Services by 1,431.1% in the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after acquiring an additional 5,667 shares in the last quarter. Mather Group LLC. bought a new stake in ZIM Integrated Shipping Services in the second quarter worth about $96,000. Finally, Cetera Advisors LLC bought a new stake in ZIM Integrated Shipping Services in the first quarter worth about $130,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

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.