ZIM Integrated Shipping Services (NYSE:ZIM) Trading Down 3.8%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares fell 3.8% during mid-day trading on Thursday . The stock traded as low as $16.62 and last traded at $16.67. 1,280,790 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 6,100,688 shares. The stock had previously closed at $17.32.

Analysts Set New Price Targets

Several analysts have commented on the stock. Barclays increased their price target on shares of ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. Bank of America lifted 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 report on Wednesday, August 28th. Jefferies Financial Group reiterated a “buy” rating and set a $22.00 price objective on shares of ZIM Integrated Shipping Services in a report on Monday, August 19th. Finally, Citigroup lowered ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and upped their target price for the company from $11.60 to $13.00 in a research report on Thursday, June 6th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $14.59.

ZIM Integrated Shipping Services Stock Down 3.0 %

The company’s 50 day moving average price is $19.13 and its 200 day moving average price is $16.19. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -0.76, a P/E/G ratio of 0.03 and a beta of 1.83.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $1.01. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.71 billion. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. During the same period in the previous year, the firm posted ($1.37) earnings per share. As a group, research analysts forecast that ZIM Integrated Shipping Services Ltd. will post 11.79 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 29th were paid a $0.93 dividend. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. This represents a $3.72 annualized dividend and a dividend yield of 23.00%. The ex-dividend date of this dividend was Thursday, August 29th. ZIM Integrated Shipping Services’s payout ratio is currently -4.35%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Institutional investors have recently modified their holdings of the business. Truist Financial Corp acquired a new stake in ZIM Integrated Shipping Services in the 2nd quarter valued at $417,000. Point72 Asset Management L.P. acquired a new position in ZIM Integrated Shipping Services in the 2nd quarter valued at $5,849,000. Northwestern Mutual Wealth Management Co. raised its position in shares of ZIM Integrated Shipping Services by 2,341.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock valued at $43,000 after buying an additional 1,850 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in ZIM Integrated Shipping Services in the 2nd quarter worth approximately $2,343,000. Finally, Millennium Management LLC raised its holdings in shares of ZIM Integrated Shipping Services by 306.7% during the 2nd quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock worth $9,440,000 after acquiring an additional 321,100 shares during the period. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.