ZIM Integrated Shipping Services (NYSE:ZIM) Stock Rating Reaffirmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their underweight rating on shares of ZIM Integrated Shipping Services (NYSE:ZIM) in a report published on Tuesday morning, Marketbeat reports. The firm currently has a $10.50 target price on the stock.

Several other brokerages have also commented on ZIM. Barclays raised their price target on ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the company an underweight rating in a research note on Friday, August 23rd. Citigroup downgraded shares of ZIM Integrated Shipping Services from a neutral rating to a sell rating and raised their target price for the company from $11.60 to $13.00 in a research report on Thursday, June 6th. Jefferies Financial Group reaffirmed a buy rating and issued a $22.00 price target on shares of ZIM Integrated Shipping Services in a research report on Monday, August 19th. Finally, Bank of America lifted their price objective on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an underperform rating in a report on Wednesday, August 28th. Four analysts have rated the stock with a sell rating and one has given a buy rating to the company. According to MarketBeat.com, ZIM Integrated Shipping Services currently has a consensus rating of Reduce and an average target price of $14.84.

ZIM Integrated Shipping Services Trading Down 1.8 %

Shares of ZIM opened at $18.30 on Tuesday. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -0.86, a PEG ratio of 0.03 and a beta of 1.83. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.04 and a quick ratio of 0.97. ZIM Integrated Shipping Services has a 1-year low of $6.39 and a 1-year high of $23.82. The company has a 50-day moving average of $18.63 and a 200 day moving average of $16.37.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.07 by $1.01. The firm 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 quarter in the previous year, the firm posted ($1.37) earnings per share. On average, research analysts expect that ZIM Integrated Shipping Services will post 11.79 EPS for the current 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 given a dividend of $0.93 per share. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, August 29th. This represents a $3.72 dividend on an annualized basis and a yield of 20.33%. ZIM Integrated Shipping Services’s dividend payout ratio is presently -4.35%.

Institutional Trading of ZIM Integrated Shipping Services

A number of institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. raised its stake in 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. Mather Group LLC. purchased a new position in shares of ZIM Integrated Shipping Services in the 2nd quarter valued at approximately $96,000. Scarborough Advisors LLC acquired a new stake in ZIM Integrated Shipping Services in the 4th quarter worth approximately $58,000. Russell Investments Group Ltd. grew its position in ZIM Integrated Shipping Services by 1,431.1% during the 1st quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after purchasing an additional 5,667 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in ZIM Integrated Shipping Services during the 2nd quarter valued at approximately $142,000. 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.