ZIM Integrated Shipping Services (NYSE:ZIM) Downgraded by Jefferies Financial Group

Jefferies Financial Group downgraded shares of ZIM Integrated Shipping Services (NYSE:ZIM) from a buy rating to a hold rating in a research note released on Wednesday morning, MarketBeat.com reports. The brokerage currently has $25.00 price objective on the stock.

Other analysts have also issued reports about the company. Barclays lifted their price target on ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the stock an underweight rating in a research note on Friday, August 23rd. Citigroup downgraded ZIM Integrated Shipping Services from a neutral rating to a sell rating and lifted their price objective for the stock from $11.60 to $13.00 in a research report on Thursday, June 6th. JPMorgan Chase & Co. reiterated an underweight rating and set a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Finally, Bank of America lifted their target price on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an underperform rating in a research report on Wednesday, August 28th. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. According to data from MarketBeat.com, ZIM Integrated Shipping Services has an average rating of Reduce and an average price target of $15.44.

ZIM Integrated Shipping Services Trading Down 12.6 %

Shares of NYSE:ZIM opened at $18.95 on Wednesday. ZIM Integrated Shipping Services has a 52-week low of $6.39 and a 52-week high of $26.20. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -0.90, a PEG ratio of 0.05 and a beta of 1.86. 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 business has a 50-day moving average price of $19.77 and a 200-day moving average price of $17.44.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced 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 company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.71 billion. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. During the same period last year, the business earned ($1.37) earnings per share. Equities analysts predict that ZIM Integrated Shipping Services will post 10.87 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 29th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 19.63%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, August 29th. ZIM Integrated Shipping Services’s dividend payout ratio is -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of large investors have recently modified their holdings of ZIM. Renaissance Technologies LLC raised its stake in shares of ZIM Integrated Shipping Services by 479.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock worth $58,429,000 after buying an additional 2,181,000 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of ZIM Integrated Shipping Services by 638.6% in the 2nd quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock worth $53,148,000 after acquiring an additional 2,072,715 shares during the period. Encompass Capital Advisors LLC acquired a new stake in ZIM Integrated Shipping Services during the 2nd quarter valued at $14,383,000. Millennium Management LLC grew its holdings in ZIM Integrated Shipping Services by 306.7% during the 2nd quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock valued at $9,440,000 after buying an additional 321,100 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in ZIM Integrated Shipping Services by 1,226.7% during the 3rd quarter. SG Americas Securities LLC now owns 343,581 shares of the company’s stock valued at $8,816,000 after buying an additional 317,684 shares during the last quarter. 21.42% of the stock is owned by hedge funds and other institutional investors.

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.