ZIM Integrated Shipping Services (NYSE:ZIM) Trading Down 4.6% After Analyst Downgrade

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price was down 4.6% on Tuesday after Jefferies Financial Group lowered their price target on the stock from $28.00 to $22.00. Jefferies Financial Group currently has a hold rating on the stock. ZIM Integrated Shipping Services traded as low as $18.16 and last traded at $18.62. Approximately 1,538,059 shares were traded during trading, a decline of 75% from the average daily volume of 6,235,402 shares. The stock had previously closed at $19.51.

A number of other equities research analysts also recently weighed in on the company. Bank of America lifted their target price on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Barclays boosted their price target on ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an “underweight” rating in a research note on Monday, November 25th. Finally, Fearnley Fonds cut ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.14.

Institutional Trading of ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Fairman Group LLC bought a new position in shares of ZIM Integrated Shipping Services during the third quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in ZIM Integrated Shipping Services during the third quarter worth approximately $31,000. Northwestern Mutual Wealth Management Co. increased its holdings 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 purchasing an additional 1,850 shares in the last quarter. American Capital Advisory LLC acquired a new position in ZIM Integrated Shipping Services in the third quarter valued at approximately $69,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of ZIM Integrated Shipping Services during the 3rd quarter worth approximately $71,000. Institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Stock Down 1.2 %

The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26. The firm’s fifty day moving average price is $22.37 and its two-hundred day moving average price is $20.64. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 1.52, a price-to-earnings-growth ratio of 0.04 and a beta of 1.78.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were paid a dividend of $2.81 per share. This represents a $11.24 dividend on an annualized basis and a yield of 61.76%. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s payout ratio is 9.72%.

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.