ZIM Integrated Shipping Services (NYSE:ZIM) Trading Down 6.6%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares traded down 6.6% during mid-day trading on Friday . The stock traded as low as $21.11 and last traded at $21.24. 2,136,849 shares were traded during mid-day trading, a decline of 66% from the average session volume of 6,352,744 shares. The stock had previously closed at $22.73.

Analyst Ratings Changes

A number of research firms recently issued reports on ZIM. Barclays boosted their price objective on ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the company an “underweight” rating in a research note on Tuesday, May 28th. JPMorgan Chase & Co. decreased their price objective on ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Citigroup lowered 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 research note on Thursday, June 6th. Bank of America decreased their price objective on ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating on the stock in a research note on Tuesday, March 19th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $20.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday, May 22nd. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, ZIM Integrated Shipping Services currently has an average rating of “Hold” and a consensus price target of $12.01.

ZIM Integrated Shipping Services Stock Performance

The company has a 50-day moving average of $18.96 and a 200 day moving average of $14.17. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $2.65 billion, a PE ratio of -1.00, a PEG ratio of 0.20 and a beta of 1.85.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Tuesday, May 21st. The company reported $0.75 EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Equities research analysts predict that ZIM Integrated Shipping Services Ltd. will post 3.42 EPS for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, June 4th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date was Tuesday, June 4th. ZIM Integrated Shipping Services’s payout ratio is currently -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently modified their holdings of ZIM. American Century Companies Inc. boosted its holdings in shares of ZIM Integrated Shipping Services by 12.4% in the 3rd quarter. American Century Companies Inc. now owns 898,491 shares of the company’s stock worth $9,389,000 after purchasing an additional 99,477 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of ZIM Integrated Shipping Services by 77.1% in the 3rd quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock worth $56,000 after purchasing an additional 2,352 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of ZIM Integrated Shipping Services in the 4th quarter worth about $518,000. Clear Harbor Asset Management LLC boosted its holdings in shares of ZIM Integrated Shipping Services by 100.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 138,475 shares of the company’s stock worth $1,367,000 after purchasing an additional 69,445 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of ZIM Integrated Shipping Services by 604.3% in the 4th quarter. Blue Trust Inc. now owns 4,296 shares of the company’s stock worth $45,000 after purchasing an additional 3,686 shares in the last quarter. 21.42% of the stock is currently owned by hedge funds and other 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.