ZIM Integrated Shipping Services (NYSE:ZIM) Shares Up 0.9%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price shot up 0.9% during mid-day trading on Wednesday . The company traded as high as $19.45 and last traded at $19.01. 3,343,029 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 7,152,407 shares. The stock had previously closed at $18.84.

Analyst Ratings Changes

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

ZIM Integrated Shipping Services Stock Performance

The company has a 50 day moving average price of $16.54 and a 200-day moving average price of $13.15. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.90 and a current ratio of 0.98.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings data 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 company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.53 billion. As a group, equities analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 1.88 EPS for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, June 4th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend was Tuesday, June 4th. ZIM Integrated Shipping Services’s payout ratio is currently -4.35%.

Institutional Trading of ZIM Integrated Shipping Services

Several large investors have recently bought and sold shares of ZIM. Tower Research Capital LLC TRC raised its position in shares of ZIM Integrated Shipping Services by 92.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,335 shares of the company’s stock worth $33,000 after acquiring an additional 1,601 shares in the last quarter. Blue Trust Inc. grew its stake in ZIM Integrated Shipping Services by 604.3% in the fourth quarter. Blue Trust Inc. now owns 4,296 shares of the company’s stock worth $45,000 after purchasing an additional 3,686 shares during the period. Citigroup Inc. raised its holdings in ZIM Integrated Shipping Services by 77.1% in the third quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock worth $56,000 after purchasing an additional 2,352 shares in the last quarter. Scarborough Advisors LLC purchased a new position in ZIM Integrated Shipping Services during the fourth quarter valued at $58,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of 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 valued at $61,000 after buying an additional 5,667 shares in the last quarter. 21.42% of the stock is owned by institutional investors.

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.