ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Down 17.1% – Here’s What Happened

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price dropped 17.1% during trading on Thursday . The stock traded as low as $13.37 and last traded at $13.37. Approximately 8,080,768 shares were traded during trading, an increase of 37% from the average daily volume of 5,891,990 shares. The stock had previously closed at $16.13.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ZIM shares. Barclays lowered their price objective on shares of ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating for the company in a research note on Monday, March 17th. JPMorgan Chase & Co. reduced their price target on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a report on Friday, March 7th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $18.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday, March 12th. Five investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.54.

ZIM Integrated Shipping Services Price Performance

The firm has a market capitalization of $1.63 billion, a P/E ratio of 1.13, a P/E/G ratio of 0.27 and a beta of 1.70. The stock’s fifty day simple moving average is $18.60 and its 200 day simple moving average is $20.48. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings data on Wednesday, March 12th. The company reported $4.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, equities research analysts predict that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th will be given a $3.17 dividend. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. The ex-dividend date is Monday, March 24th. This represents a $12.68 dividend on an annualized basis and a dividend yield of 93.82%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently 6.51%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of large investors have recently modified their holdings of ZIM. Renaissance Technologies LLC lifted its stake in shares of ZIM Integrated Shipping Services by 50.0% during the fourth quarter. Renaissance Technologies LLC now owns 5,726,631 shares of the company’s stock worth $122,951,000 after buying an additional 1,909,480 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of ZIM Integrated Shipping Services by 33.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,784,352 shares of the company’s stock valued at $81,250,000 after acquiring an additional 940,587 shares during the period. Marshall Wace LLP grew its holdings in ZIM Integrated Shipping Services by 6.9% in the fourth quarter. Marshall Wace LLP now owns 1,936,666 shares of the company’s stock valued at $41,580,000 after purchasing an additional 124,558 shares during the period. JPMorgan Chase & Co. grew its stake in ZIM Integrated Shipping Services by 59.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock valued at $46,482,000 after acquiring an additional 674,723 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in ZIM Integrated Shipping Services by 39.5% in the 4th quarter. Allianz Asset Management GmbH now owns 1,389,034 shares of the company’s stock valued at $29,823,000 after buying an additional 393,215 shares in the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Company Profile

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.