ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Down 3.3% – What’s Next?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares traded down 3.3% during mid-day trading on Friday . The company traded as low as $22.47 and last traded at $22.54. 1,123,297 shares traded hands during trading, a decline of 70% from the average session volume of 3,709,441 shares. The stock had previously closed at $23.31.

Analysts Set New Price Targets

Several brokerages have recently commented on ZIM. Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Barclays increased their price objective on shares of ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an “underweight” rating in a research note on Monday, November 25th. 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. Jefferies Financial Group reduced their target price on ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating for the company in a report on Tuesday, December 17th. Finally, Fearnley Fonds lowered ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. Five research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ZIM Integrated Shipping Services has an average rating of “Hold” and an average price target of $15.14.

ZIM Integrated Shipping Services Stock Down 3.5 %

The stock’s 50-day moving average price is $22.21 and its two-hundred day moving average price is $20.76. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $2.71 billion, a P/E ratio of 1.88, a P/E/G ratio of 0.04 and a beta of 1.78.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were paid a $2.81 dividend. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $11.24 annualized dividend and a yield of 49.98%. ZIM Integrated Shipping Services’s dividend payout ratio is presently 9.72%.

Institutional Trading of ZIM Integrated Shipping Services

A number of large investors have recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of ZIM Integrated Shipping Services by 2,228.7% during the 3rd quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock worth $10,337,000 after acquiring an additional 385,562 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in ZIM Integrated Shipping Services during the third quarter valued at about $2,612,000. Blueshift Asset Management LLC purchased a new stake in ZIM Integrated Shipping Services during the third quarter valued at about $620,000. Quantbot Technologies LP boosted its position in ZIM Integrated Shipping Services by 9,573.0% during the third quarter. Quantbot Technologies LP now owns 370,477 shares of the company’s stock worth $9,506,000 after purchasing an additional 366,647 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of ZIM Integrated Shipping Services in the second quarter worth about $2,343,000. 21.42% of the stock is owned by hedge funds and other 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.