Short Interest in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Declines By 27.8%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 12,750,000 shares, a decrease of 27.8% from the October 15th total of 17,670,000 shares. Based on an average trading volume of 5,840,000 shares, the days-to-cover ratio is currently 2.2 days. Approximately 12.9% of the company’s shares are short sold.

ZIM Integrated Shipping Services Trading Up 1.2 %

NYSE:ZIM traded up $0.31 on Thursday, reaching $25.32. The company’s stock had a trading volume of 8,411,139 shares, compared to its average volume of 6,015,906. ZIM Integrated Shipping Services has a 12-month low of $6.39 and a 12-month high of $27.48. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of -1.64, a price-to-earnings-growth ratio of 0.04 and a beta of 1.88. The stock has a 50 day moving average price of $21.60 and a 200 day moving average price of $19.91. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.41.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its 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 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 period in the previous year, the company posted ($1.37) EPS. On average, equities analysts anticipate that ZIM Integrated Shipping Services will post 12.11 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 14.69%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, August 29th. ZIM Integrated Shipping Services’s payout ratio is -1.41%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its holdings in shares of ZIM Integrated Shipping Services by 479.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock valued at $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% during the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock worth $53,148,000 after purchasing an additional 2,072,715 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of ZIM Integrated Shipping Services during the second quarter worth about $14,383,000. International Assets Investment Management LLC lifted its holdings in shares of ZIM Integrated Shipping Services by 2,228.7% in the 3rd quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock valued at $10,337,000 after purchasing an additional 385,562 shares during the last quarter. Finally, Quantbot Technologies LP boosted its position in shares of ZIM Integrated Shipping Services by 9,573.0% in the 3rd quarter. Quantbot Technologies LP now owns 370,477 shares of the company’s stock valued at $9,506,000 after purchasing an additional 366,647 shares during the period. Hedge funds and other institutional investors own 21.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ZIM. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Bank of America increased their price objective on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Jefferies Financial Group downgraded ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research note on Wednesday, October 2nd. Finally, Barclays boosted their price target on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $15.22.

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.