ZIM Integrated Shipping Services (NYSE:ZIM) Shares Down 1.9%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) dropped 1.9% during trading on Friday . The stock traded as low as $18.20 and last traded at $18.27. Approximately 534,556 shares were traded during trading, a decline of 91% from the average daily volume of 6,059,987 shares. The stock had previously closed at $18.63.

Wall Street Analyst Weigh In

ZIM has been the subject of several research analyst reports. Bank of America lifted their target price on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 price target on shares of ZIM Integrated Shipping Services in a research note on Monday, August 19th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research note on Tuesday. Citigroup downgraded shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and increased their price target for the stock from $11.60 to $13.00 in a research note on Thursday, June 6th. Finally, Barclays raised their price objective on shares of ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a sell rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $14.84.

ZIM Integrated Shipping Services Stock Down 2.1 %

The company has a 50-day simple moving average of $18.70 and a 200-day simple moving average of $16.33. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.04.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its earnings results on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $1.01. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the company posted ($1.37) EPS. Analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 11.79 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 $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 20.39%. The ex-dividend date of this dividend was Thursday, August 29th. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in ZIM Integrated Shipping Services by 2,341.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock worth $43,000 after acquiring an additional 1,850 shares in the last quarter. Scarborough Advisors LLC acquired a new position in shares of ZIM Integrated Shipping Services during the 4th quarter valued at about $58,000. Russell Investments Group Ltd. lifted its position in ZIM Integrated Shipping Services by 1,431.1% in the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock valued at $61,000 after buying an additional 5,667 shares during the last quarter. Mather Group LLC. acquired a new position in ZIM Integrated Shipping Services during the 2nd quarter worth about $96,000. Finally, Private Advisor Group LLC acquired a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter valued at $127,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

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.