ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Down 4.9%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) fell 4.9% on Thursday . The company traded as low as $22.12 and last traded at $22.38. 1,343,760 shares were traded during mid-day trading, a decline of 78% from the average session volume of 6,031,250 shares. The stock had previously closed at $23.53.

Wall Street Analyst Weigh In

Several analysts have commented on ZIM shares. Citigroup lowered ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and raised their price objective for the company from $11.60 to $13.00 in a report on Thursday, June 6th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Bank of America boosted 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 reaffirmed a “buy” rating and issued a $22.00 price target on shares of ZIM Integrated Shipping Services in a research note on Monday, August 19th. Finally, Barclays boosted their price objective on ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a sell rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, ZIM Integrated Shipping Services presently has an average rating of “Reduce” and a consensus target price of $14.84.

ZIM Integrated Shipping Services Trading Up 0.6 %

The stock has a market capitalization of $2.85 billion, a PE ratio of -1.11, a P/E/G ratio of 0.05 and a beta of 1.83. The company’s 50 day moving average price is $19.03 and its two-hundred day moving average price is $16.93. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.04 and a quick ratio of 0.97.

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 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 firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the firm earned ($1.37) earnings per share. As a group, analysts expect that ZIM Integrated Shipping Services Ltd. will post 10.87 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. Shareholders of record on Thursday, August 29th were paid a dividend of $0.93 per share. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, August 29th. This represents a $3.72 annualized dividend and a yield of 15.72%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is -4.35%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its stake in ZIM Integrated Shipping Services by 2,341.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock worth $43,000 after buying an additional 1,850 shares during the period. Scarborough Advisors LLC purchased a new position in ZIM Integrated Shipping Services in the fourth quarter valued at $58,000. Russell Investments Group Ltd. grew its stake in ZIM Integrated Shipping Services by 1,431.1% during the 1st quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after purchasing an additional 5,667 shares in the last quarter. Mather Group LLC. purchased a new stake in ZIM Integrated Shipping Services during the 2nd quarter worth about $96,000. Finally, Jump Financial LLC acquired a new stake in ZIM Integrated Shipping Services in the 4th quarter valued at about $130,000. 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.