ZIM Integrated Shipping Services (NYSE:ZIM) Shares Up 2.1%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) rose 2.1% during mid-day trading on Wednesday . The company traded as high as $23.37 and last traded at $23.06. Approximately 701,461 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 6,377,434 shares. The stock had previously closed at $22.58.

Analysts Set New Price Targets

ZIM has been the topic of a number of recent research reports. Bank of America lowered their price objective on shares of ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating on the stock in a report on Tuesday, March 19th. 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 report on Thursday, June 6th. JPMorgan Chase & Co. lowered 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 report on Friday, March 22nd. Barclays lifted their price objective on shares of ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the company an “underweight” rating in a report on Tuesday, May 28th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $20.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday, May 22nd. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.01.

ZIM Integrated Shipping Services Stock Performance

The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of -1.09, a P/E/G ratio of 0.20 and a beta of 1.85. The stock’s fifty day moving average is $18.50 and its two-hundred day moving average is $14.05. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 1.49.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its earnings results on Tuesday, May 21st. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.34). ZIM Integrated Shipping Services had a negative return on equity of 14.80% and a negative net margin of 47.59%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.53 billion. On average, analysts predict that ZIM Integrated Shipping Services Ltd. will post 3.42 earnings per share for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.92 dividend on an annualized basis and a yield of 4.00%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of ZIM Integrated Shipping Services by 82.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 512,103 shares of the company’s stock valued at $5,054,000 after acquiring an additional 231,955 shares during the period. International Assets Investment Management LLC boosted its position in shares of ZIM Integrated Shipping Services by 1,204.6% in the fourth quarter. International Assets Investment Management LLC now owns 173,712 shares of the company’s stock valued at $17,600,000 after acquiring an additional 160,397 shares during the period. Allianz Asset Management GmbH boosted its position in shares of ZIM Integrated Shipping Services by 1,446.0% in the fourth quarter. Allianz Asset Management GmbH now owns 161,552 shares of the company’s stock valued at $1,595,000 after acquiring an additional 151,102 shares during the period. American Century Companies Inc. boosted its position in shares of ZIM Integrated Shipping Services by 12.4% in the third quarter. American Century Companies Inc. now owns 898,491 shares of the company’s stock valued at $9,389,000 after acquiring an additional 99,477 shares during the period. Finally, Entropy Technologies LP bought a new stake in shares of ZIM Integrated Shipping Services in the first quarter valued at about $854,000. 21.42% of the stock is owned by institutional investors.

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.