ZIM Integrated Shipping Services (NYSE:ZIM) Trading Down 1.2%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price traded down 1.2% during mid-day trading on Friday . The company traded as low as $19.85 and last traded at $20.16. 1,497,028 shares were traded during trading, a decline of 75% from the average session volume of 6,003,070 shares. The stock had previously closed at $20.41.

Wall Street Analyst Weigh In

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

ZIM Integrated Shipping Services Stock Down 2.6 %

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 company has a market cap of $2.39 billion, a price-to-earnings ratio of -0.95, a PEG ratio of 0.04 and a beta of 1.83. The business has a 50-day simple moving average of $18.61 and a two-hundred day simple moving average of $16.54.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings results on Monday, August 19th. The company reported $3.08 EPS for the quarter, beating the consensus estimate of $2.07 by $1.01. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the company posted ($1.37) earnings per share. As a group, equities 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. Shareholders of record on Thursday, August 29th were issued 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 yield of 18.71%. ZIM Integrated Shipping Services’s dividend payout ratio is -4.35%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of institutional investors have recently added to or reduced their stakes in ZIM. Renaissance Technologies LLC boosted its position in shares of ZIM Integrated Shipping Services by 479.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock valued at $58,429,000 after acquiring an additional 2,181,000 shares in the last quarter. Marshall Wace LLP grew its stake in shares of ZIM Integrated Shipping Services by 638.6% in the 2nd quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock valued at $53,148,000 after purchasing an additional 2,072,715 shares during the period. Encompass Capital Advisors LLC acquired a new position in shares of ZIM Integrated Shipping Services in the 2nd quarter worth approximately $14,383,000. Millennium Management LLC lifted its position in shares of ZIM Integrated Shipping Services by 306.7% during the 2nd quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock worth $9,440,000 after buying an additional 321,100 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in ZIM Integrated Shipping Services in the 2nd quarter valued at $5,849,000. 21.42% of the stock is owned by institutional investors and hedge funds.

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.