ZIM Integrated Shipping Services (NYSE:ZIM) Shares Down 1.9%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price dropped 1.9% during mid-day trading on Friday . The stock traded as low as $18.20 and last traded at $18.27. Approximately 534,556 shares changed hands during trading, a decline of 91% from the average daily volume of 6,059,987 shares. The stock had previously closed at $18.63.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ZIM. 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 research report on Wednesday, August 28th. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research note on Tuesday. Jefferies Financial Group reiterated a “buy” rating and set a $22.00 price target on shares of ZIM Integrated Shipping Services in a report on Monday, August 19th. Barclays boosted their price target on shares of 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. Finally, Citigroup downgraded shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $11.60 to $13.00 in a report on Thursday, June 6th. Four research analysts have rated the stock with a sell rating and one has issued a buy rating to the company. According to data from MarketBeat.com, ZIM Integrated Shipping Services presently has a consensus rating of “Reduce” and a consensus target price of $14.84.

ZIM Integrated Shipping Services Trading Down 2.1 %

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 company has a fifty day moving average price of $18.70 and a 200 day moving average price of $16.33.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings data on Monday, August 19th. The company reported $3.08 EPS 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 period in the prior year, the firm posted ($1.37) earnings per share. On average, analysts predict that ZIM Integrated Shipping Services Ltd. will post 11.79 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 29th were paid a $0.93 dividend. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. This represents a $3.72 dividend on an annualized basis and a yield of 20.39%. The ex-dividend date was Thursday, August 29th. ZIM Integrated Shipping Services’s dividend payout ratio is presently -4.35%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently bought and sold shares of ZIM. Northwestern Mutual Wealth Management Co. lifted its position in ZIM Integrated Shipping Services by 2,341.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock valued at $43,000 after purchasing an additional 1,850 shares during the period. Scarborough Advisors LLC purchased a new position in ZIM Integrated Shipping Services during the fourth quarter valued at $58,000. Russell Investments Group Ltd. lifted its position in ZIM Integrated Shipping Services by 1,431.1% during the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock valued at $61,000 after purchasing an additional 5,667 shares in the last quarter. Mather Group LLC. bought a new stake in ZIM Integrated Shipping Services during the second quarter valued at about $96,000. Finally, Private Advisor Group LLC bought a new stake in ZIM Integrated Shipping Services during the fourth quarter valued at about $127,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

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.