ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Down 6%

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) fell 6% during trading on Wednesday . The company traded as low as $18.72 and last traded at $18.78. 3,531,542 shares changed hands during trading, a decline of 42% from the average session volume of 6,117,227 shares. The stock had previously closed at $19.98.

Wall Street Analyst Weigh In

ZIM has been the subject of several research reports. Barclays increased their price objective on 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. Citigroup downgraded shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and increased their price target for the company from $11.60 to $13.00 in a report on Thursday, June 6th. Bank of America boosted their price objective 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. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $22.00 target price on shares of ZIM Integrated Shipping Services in a research note on Monday, August 19th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. According to MarketBeat, ZIM Integrated Shipping Services has a consensus rating of “Hold” and an average price target of $14.59.

ZIM Integrated Shipping Services Stock Performance

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 50-day moving average of $19.57 and a 200 day moving average of $15.98. The stock has a market capitalization of $2.20 billion, a P/E ratio of -0.88, a PEG ratio of 0.07 and a beta of 1.85.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Monday, August 19th. The company reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $1.01. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the firm earned ($1.37) EPS. Research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 7.97 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, August 29th. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. This represents a $3.72 dividend on an annualized basis and a dividend yield of 20.37%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently -4.35%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Large investors have recently made changes to their positions in the company. Olympiad Research LP boosted its position in ZIM Integrated Shipping Services by 2.8% in the fourth quarter. Olympiad Research LP now owns 49,236 shares of the company’s stock valued at $486,000 after buying an additional 1,364 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of ZIM Integrated Shipping Services by 92.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,335 shares of the company’s stock worth $33,000 after acquiring an additional 1,601 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in ZIM Integrated Shipping Services by 2,341.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock worth $43,000 after acquiring an additional 1,850 shares during the last quarter. California State Teachers Retirement System increased its holdings in ZIM Integrated Shipping Services by 2.4% during the 1st quarter. California State Teachers Retirement System now owns 104,767 shares of the company’s stock valued at $1,060,000 after purchasing an additional 2,423 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in ZIM Integrated Shipping Services by 9.6% in the 2nd quarter. Van ECK Associates Corp now owns 37,488 shares of the company’s stock valued at $831,000 after purchasing an additional 3,296 shares during the last quarter. Institutional investors 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.