ZIM Integrated Shipping Services’ (ZIM) “Underweight” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their underweight rating on shares of ZIM Integrated Shipping Services (NYSE:ZIM) in a research report report published on Tuesday, MarketBeat reports. The firm currently has a $10.50 price target on the stock.

Other research analysts also recently issued research reports about the company. Jefferies Financial Group restated a buy rating and set a $22.00 price target on shares of ZIM Integrated Shipping Services in a report on Monday, August 19th. Bank of America upped their target price on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an underperform rating in a report on Wednesday, August 28th. Citigroup cut shares of 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. Finally, Barclays upped their price objective on shares of ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the stock an underweight rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a sell rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Reduce and a consensus target price of $14.84.

ZIM Integrated Shipping Services Stock Performance

Shares of ZIM stock opened at $16.41 on Tuesday. The company has a market capitalization of $1.97 billion, a P/E ratio of -0.77, a PEG ratio of 0.03 and a beta of 1.83. ZIM Integrated Shipping Services has a fifty-two week low of $6.39 and a fifty-two week high of $23.82. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.04. The stock has a 50 day moving average price of $18.87 and a two-hundred day moving average price of $16.30.

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. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the business posted ($1.37) EPS. Analysts expect that ZIM Integrated Shipping Services will post 11.79 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 29th were given a $0.93 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. This represents a $3.72 dividend on an annualized basis and a dividend yield of 22.68%. ZIM Integrated Shipping Services’s dividend payout ratio is currently -4.35%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Olympiad Research LP lifted its holdings in shares of ZIM Integrated Shipping Services by 2.8% during the fourth quarter. Olympiad Research LP now owns 49,236 shares of the company’s stock valued at $486,000 after purchasing an additional 1,364 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in ZIM Integrated Shipping Services by 2,341.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock valued at $43,000 after buying an additional 1,850 shares during the last quarter. California State Teachers Retirement System boosted its holdings 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 worth $1,060,000 after acquiring an additional 2,423 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of ZIM Integrated Shipping Services by 9.6% in the second quarter. Van ECK Associates Corp now owns 37,488 shares of the company’s stock worth $831,000 after acquiring an additional 3,296 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of ZIM Integrated Shipping Services by 39.3% during the second quarter. Rhumbline Advisers now owns 11,732 shares of the company’s stock valued at $260,000 after acquiring an additional 3,311 shares in the last quarter. 21.42% of the stock is owned by hedge funds and other institutional investors.

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.