ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down – Here’s Why

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped down prior to trading on Wednesday . The stock had previously closed at $24.81, but opened at $22.67. ZIM Integrated Shipping Services shares last traded at $22.65, with a volume of 1,413,649 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ZIM shares. Bank of America upped their target price 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. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Jefferies Financial Group cut ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a report on Wednesday, October 2nd. Finally, Barclays increased their price target on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. Based on data from MarketBeat, ZIM Integrated Shipping Services presently has a consensus rating of “Reduce” and an average target price of $15.22.

ZIM Integrated Shipping Services Trading Down 3.0 %

The stock has a market cap of $2.89 billion, a PE ratio of -1.48, a price-to-earnings-growth ratio of 0.04 and a beta of 1.88. The company’s 50-day moving average price is $20.83 and its 200 day moving average price is $19.43. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.04.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Monday, August 19th. The company reported $3.08 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $1.01. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned ($1.37) earnings per share. On average, sell-side analysts forecast that ZIM Integrated Shipping Services Ltd. will post 12.11 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was 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 15.46%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently -1.41%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ZIM. Oppenheimer & Co. Inc. purchased a new stake in ZIM Integrated Shipping Services during the first quarter worth about $310,000. Russell Investments Group Ltd. increased its stake 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 buying an additional 5,667 shares during the period. Entropy Technologies LP acquired a new stake in ZIM Integrated Shipping Services during the 1st quarter worth approximately $854,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in ZIM Integrated Shipping Services by 81.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 89,560 shares of the company’s stock valued at $956,000 after buying an additional 40,326 shares during the period. Finally, Axxcess Wealth Management LLC acquired a new position in shares of ZIM Integrated Shipping Services in the first quarter worth $546,000. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.