ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Free Report) Director Birger Meyer-Gloeckner sold 1,531 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $28.50, for a total value of $43,633.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
ZIM Integrated Shipping Services Stock Performance
NYSE:ZIM opened at $29.48 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.24 and a quick ratio of 1.15. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 25.63 and a beta of 1.18. The firm’s fifty day moving average price is $26.29 and its 200 day moving average price is $26.29. ZIM Integrated Shipping Services Ltd. has a 1-year low of $12.33 and a 1-year high of $30.40.
ZIM Integrated Shipping Services (NYSE:ZIM – Get Free Report) last released its earnings results on Thursday, August 20th. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.27). The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.79 billion. ZIM Integrated Shipping Services had a return on equity of 1.11% and a net margin of 2.15%. On average, sell-side analysts expect that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current year.
Key Headlines Impacting ZIM Integrated Shipping Services
- Positive Sentiment: Hapag-Lloyd working to preserve the deal: Hapag-Lloyd and investment firm FIMI are reportedly developing stronger safeguards for ZIM’s Israeli operations after discussions with Israeli officials. The measures could help address approval concerns and improve the likelihood of completing the proposed $35-per-share acquisition. Can New Safeguards Preserve ZIM’s $4.2B Sale?
- Positive Sentiment: Cash takeover supports the stock: The proposed transaction values ZIM’s equity at approximately $4.2 billion and offers shareholders a premium to the pre-deal valuation. The spread between the market price and the offer price reflects both potential upside and the risk that the transaction could be delayed, revised or rejected. ZIM Safeguards and $4.2B Sale
- Neutral Sentiment: Analyst ratings are less relevant after the takeover announcement: ZIM has a consensus “Hold” rating, with one Strong Buy, five Holds and two Sells and an average target price of $19.83. Those targets appear to largely reflect the company as a standalone business and may not incorporate the proposed acquisition. ZIM Receives Consensus Hold Rating
- Negative Sentiment: Insiders reported several sales: Executives Sami Jubran, Saar Dotan, Assaf Tiran and Arik Elimelech, along with director Birger Johanne Meyer-Gloeckner, sold shares recently. The transactions were relatively small, but clustered insider selling near the proposed offer price could weigh on sentiment. ZIM Insider Selling
Institutional Trading of ZIM Integrated Shipping Services
A number of institutional investors have recently bought and sold shares of the company. Sigma Planning Corp boosted its holdings in shares of ZIM Integrated Shipping Services by 3.8% in the 2nd quarter. Sigma Planning Corp now owns 11,475 shares of the company’s stock valued at $298,000 after purchasing an additional 425 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of ZIM Integrated Shipping Services by 2.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 22,528 shares of the company’s stock worth $594,000 after buying an additional 497 shares during the last quarter. Amundi raised its position in shares of ZIM Integrated Shipping Services by 5.3% in the 2nd quarter. Amundi now owns 12,213 shares of the company’s stock worth $318,000 after buying an additional 612 shares during the period. Lazard Asset Management LLC raised its holdings in shares of ZIM Integrated Shipping Services by 4.7% in the 3rd quarter. Lazard Asset Management LLC now owns 14,308 shares of the company’s stock worth $194,000 after purchasing an additional 638 shares during the period. Finally, HUB Investment Partners LLC grew its stake in ZIM Integrated Shipping Services by 6.4% during the second quarter. HUB Investment Partners LLC now owns 11,920 shares of the company’s stock worth $192,000 after buying an additional 722 shares during the period. 21.42% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ZIM has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research report on Wednesday, September 2nd. Zacks Research lowered ZIM Integrated Shipping Services from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. Barclays raised their target price on ZIM Integrated Shipping Services from $17.00 to $20.00 and gave the company an “underweight” rating in a report on Thursday, August 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an “underweight” rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.83.
Check Out Our Latest Research Report on ZIM Integrated Shipping Services
About ZIM Integrated Shipping Services
ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.
Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.
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