ZIM Integrated Shipping Services (NYSE:ZIM) Downgraded to “Hold” at Jefferies Financial Group

Jefferies Financial Group downgraded shares of ZIM Integrated Shipping Services (NYSE:ZIM) from a buy rating to a hold rating in a report released on Wednesday morning, MarketBeat reports. They currently have $25.00 price objective on the stock.

A number of other analysts have also weighed in on ZIM. JPMorgan Chase & Co. reiterated 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. Bank of America raised 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. Citigroup cut shares of 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. Finally, Barclays upped their target price on shares of 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 equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Reduce and a consensus target price of $15.44.

ZIM Integrated Shipping Services Price Performance

ZIM stock opened at $23.39 on Wednesday. The stock has a market cap of $2.81 billion, a PE ratio of -1.10, a P/E/G ratio of 0.05 and a beta of 1.83. ZIM Integrated Shipping Services has a 12 month low of $6.39 and a 12 month high of $26.20. The company has a 50-day moving average price of $19.69 and a 200 day moving average price of $17.41. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.41.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Monday, August 19th. The company reported $3.08 earnings per share (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 business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the business earned ($1.37) earnings per share. Equities research analysts anticipate that ZIM Integrated Shipping Services 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 given a dividend of $0.93 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $3.72 dividend on an annualized basis and a yield of 15.90%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. lifted its holdings 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 worth $43,000 after buying an additional 1,850 shares during the period. California State Teachers Retirement System lifted its stake in shares of ZIM Integrated Shipping Services by 2.4% during the 1st quarter. California State Teachers Retirement System now owns 104,767 shares of the company’s stock worth $1,060,000 after purchasing an additional 2,423 shares during the last quarter. Van ECK Associates Corp boosted its position in ZIM Integrated Shipping Services by 9.6% during the second quarter. Van ECK Associates Corp now owns 37,488 shares of the company’s stock valued at $831,000 after purchasing an additional 3,296 shares in the last quarter. Rhumbline Advisers grew its stake in ZIM Integrated Shipping Services by 39.3% in the second quarter. Rhumbline Advisers now owns 11,732 shares of the company’s stock valued at $260,000 after purchasing an additional 3,311 shares during the last quarter. Finally, Mather Group LLC. bought a new position in ZIM Integrated Shipping Services in the second quarter worth about $96,000. 21.42% of the stock is currently 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.