ZIM Integrated Shipping Services (NYSE:ZIM) Shares Down 1.6%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares dropped 1.6% during trading on Thursday . The stock traded as low as $18.04 and last traded at $18.17. Approximately 1,171,147 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 6,697,565 shares. The stock had previously closed at $18.46.

Wall Street Analyst Weigh In

ZIM has been the subject of a number of research reports. Barclays boosted their target price on ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the stock an “underweight” rating in a report on Tuesday, May 28th. JPMorgan Chase & Co. decreased their target price on ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating for the company in a report on Friday, March 22nd. Jefferies Financial Group reissued a “buy” rating and set a $20.00 price target on shares of ZIM Integrated Shipping Services in a research report on Wednesday, May 22nd. Citigroup lowered ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and boosted their price target for the stock from $11.60 to $13.00 in a research report on Thursday, June 6th. Finally, Bank of America reduced their price target on ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating on the stock in a research report on Tuesday, March 19th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.01.

ZIM Integrated Shipping Services Stock Performance

The stock has a 50-day simple moving average of $16.04 and a 200-day simple moving average of $12.86. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -0.87, a price-to-earnings-growth ratio of 0.31 and a beta of 1.88. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 1.49.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Tuesday, May 21st. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.34). ZIM Integrated Shipping Services had a negative net margin of 47.59% and a negative return on equity of 14.80%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.53 billion. On average, analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 1.88 earnings per share for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 4th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend was Tuesday, June 4th. ZIM Integrated Shipping Services’s payout ratio is -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of institutional investors have recently made changes to their positions in ZIM. Regatta Capital Group LLC raised its position in shares of ZIM Integrated Shipping Services by 8.5% during the 1st quarter. Regatta Capital Group LLC now owns 16,022 shares of the company’s stock valued at $162,000 after acquiring an additional 1,254 shares in the last quarter. Olympiad Research LP raised its position in shares of ZIM Integrated Shipping Services by 2.8% during the 4th quarter. Olympiad Research LP now owns 49,236 shares of the company’s stock valued at $486,000 after acquiring an additional 1,364 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of ZIM Integrated Shipping Services by 92.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,335 shares of the company’s stock valued at $33,000 after acquiring an additional 1,601 shares in the last quarter. Van ECK Associates Corp grew its stake in ZIM Integrated Shipping Services by 6.8% during the 3rd quarter. Van ECK Associates Corp now owns 33,686 shares of the company’s stock worth $352,000 after buying an additional 2,143 shares during the last quarter. Finally, Citigroup Inc. grew its stake in ZIM Integrated Shipping Services by 77.1% during the 3rd quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock worth $56,000 after buying an additional 2,352 shares during the last quarter. 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.