ZIM Integrated Shipping Services (NYSE:ZIM) Shares Down 7.4% – Should You Sell?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price fell 7.4% during trading on Thursday . The company traded as low as $18.42 and last traded at $17.95. 1,690,036 shares were traded during mid-day trading, a decline of 70% from the average session volume of 5,664,592 shares. The stock had previously closed at $19.38.

Analyst Ratings Changes

A number of research firms have recently commented on ZIM. Clarkson Capital raised shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Barclays reduced their price objective on shares of ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $18.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating on the stock in a research report on Friday, March 7th. Finally, Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Five equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ZIM Integrated Shipping Services presently has a consensus rating of “Hold” and an average target price of $14.04.

ZIM Integrated Shipping Services Stock Up 1.2 %

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’s 50-day moving average is $19.10 and its 200-day moving average is $20.58. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 1.52, a P/E/G ratio of 0.27 and a beta of 1.70.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Wednesday, March 12th. The company reported $4.66 earnings per share for the quarter, topping the consensus estimate of $3.47 by $1.19. ZIM Integrated Shipping Services had a net margin of 19.26% and a return on equity of 48.63%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.99 billion. On average, analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th will be issued a dividend of $3.17 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. The ex-dividend date of this dividend is Monday, March 24th. This represents a $12.68 annualized dividend and a yield of 69.71%. ZIM Integrated Shipping Services’s dividend payout ratio is presently 9.72%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Altshuler Shaham Ltd raised its holdings in ZIM Integrated Shipping Services by 650.0% during the fourth quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company’s stock worth $32,000 after buying an additional 1,300 shares during the last quarter. Employees Retirement System of Texas purchased a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter valued at about $45,000. Sunbelt Securities Inc. purchased a new stake in shares of ZIM Integrated Shipping Services in the third quarter valued at about $71,000. Brown Brothers Harriman & Co. purchased a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter valued at about $79,000. Finally, Mark Sheptoff Financial Planning LLC raised its holdings in shares of ZIM Integrated Shipping Services by 126.7% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 3,400 shares of the company’s stock valued at $87,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 21.42% of the company’s stock.

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.