ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Down 1.3%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIMGet Free Report)’s stock price was down 1.3% on Friday . The stock traded as low as $19.21 and last traded at $19.90. Approximately 862,362 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 6,573,634 shares. The stock had previously closed at $20.16.

Analyst Ratings Changes

Several analysts recently weighed in on ZIM shares. Citigroup downgraded shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and lifted their price objective for the company from $11.60 to $13.00 in a research report on Thursday, June 6th. JPMorgan Chase & Co. cut their price objective on shares of ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Bank of America lowered their target price on shares of ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating on the stock in a research note on Tuesday, March 19th. Jefferies Financial Group reissued a “buy” rating and set a $20.00 target price on shares of ZIM Integrated Shipping Services in a research note on Wednesday, May 22nd. Finally, Barclays raised their target price on shares of ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the company an “underweight” rating in a research note on Tuesday, May 28th. Three 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.01.

Check Out Our Latest Analysis on ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Stock Performance

The company’s 50 day simple moving average is $16.54 and its 200 day simple moving average is $13.15. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -0.94, a PEG ratio of 0.31 and a beta of 1.88. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.90 and a current ratio of 0.98.

ZIM Integrated Shipping Services (NYSE:ZIMGet Free Report) last announced its quarterly earnings data on Tuesday, May 21st. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.34). The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.53 billion. ZIM Integrated Shipping Services had a negative return on equity of 14.80% and a negative net margin of 47.59%. On average, equities research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 1.88 earnings per share for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, June 4th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.92 annualized dividend and a dividend yield of 4.63%. ZIM Integrated Shipping Services’s dividend payout ratio is currently -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its holdings in shares of ZIM Integrated Shipping Services by 92.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,335 shares of the company’s stock worth $33,000 after buying an additional 1,601 shares during the period. Blue Trust Inc. boosted its holdings in shares of ZIM Integrated Shipping Services by 604.3% in the fourth quarter. Blue Trust Inc. now owns 4,296 shares of the company’s stock worth $45,000 after buying an additional 3,686 shares during the period. Citigroup Inc. boosted its holdings in shares of ZIM Integrated Shipping Services by 77.1% in the third quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock worth $56,000 after buying an additional 2,352 shares during the period. Scarborough Advisors LLC acquired a new position in shares of ZIM Integrated Shipping Services in the fourth quarter worth about $58,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of ZIM Integrated Shipping Services by 1,431.1% in the first 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. Institutional investors and hedge funds own 21.42% of the company’s stock.

About ZIM Integrated Shipping Services

(Get Free Report)

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.

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