ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Down 4.1% – What’s Next?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price fell 4.1% during mid-day trading on Tuesday . The company traded as low as $18.61 and last traded at $18.57. 4,077,710 shares traded hands during trading, a decline of 34% from the average session volume of 6,178,111 shares. The stock had previously closed at $19.37.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ZIM shares. Jefferies Financial Group increased their target price on shares of ZIM Integrated Shipping Services from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Tuesday. Clarkson Capital lowered shares of ZIM Integrated Shipping Services from a “buy” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research report on Tuesday. Bank of America reduced their target price on shares of ZIM Integrated Shipping Services from $16.00 to $12.80 and set an “underperform” rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. lowered their price target on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a report on Friday, March 7th. Finally, Barclays cut their price objective on ZIM Integrated Shipping Services from $13.50 to $12.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. Five analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $14.05.

ZIM Integrated Shipping Services Trading Down 3.9%

The business’s 50-day simple moving average is $15.14 and its two-hundred day simple moving average is $18.68. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $2.24 billion, a PE ratio of 1.56, a PEG ratio of 0.27 and a beta of 1.84.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings data on Monday, May 19th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.56. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.84 billion. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. During the same period in the previous year, the business earned $0.75 EPS. On average, analysts predict that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were paid a dividend of $3.17 per share. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. The ex-dividend date was Monday, March 24th. This represents a $12.68 annualized dividend and a yield of 68.08%. ZIM Integrated Shipping Services’s payout ratio is presently 6.51%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several institutional investors have recently made changes to their positions in ZIM. Altshuler Shaham Ltd raised its stake in shares of ZIM Integrated Shipping Services by 650.0% during the fourth quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company’s stock valued at $32,000 after purchasing an additional 1,300 shares in the last quarter. New York State Common Retirement Fund bought a new stake in shares of ZIM Integrated Shipping Services during the 1st quarter worth about $30,000. Employees Retirement System of Texas acquired a new stake in shares of ZIM Integrated Shipping Services in the 4th quarter worth approximately $45,000. Brown Brothers Harriman & Co. bought a new position in shares of ZIM Integrated Shipping Services in the fourth quarter valued at approximately $79,000. Finally, R Squared Ltd acquired a new position in shares of ZIM Integrated Shipping Services during the fourth quarter valued at approximately $88,000. 21.42% of the stock is owned by institutional investors.

About ZIM Integrated Shipping Services

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.