ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Sees Significant Drop in Short Interest

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 12,750,000 shares, a decrease of 27.8% from the October 15th total of 17,670,000 shares. Based on an average daily volume of 5,840,000 shares, the short-interest ratio is currently 2.2 days. Approximately 12.9% of the shares of the company are sold short.

ZIM Integrated Shipping Services Trading Up 1.2 %

NYSE:ZIM traded up $0.31 during mid-day trading on Thursday, reaching $25.32. The company’s stock had a trading volume of 8,411,139 shares, compared to its average volume of 6,015,906. The stock has a market cap of $3.05 billion, a P/E ratio of -1.64, a P/E/G ratio of 0.04 and a beta of 1.88. ZIM Integrated Shipping Services has a twelve month low of $6.39 and a twelve month high of $27.48. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.04 and a quick ratio of 0.97. The company’s fifty day simple moving average is $21.60 and its two-hundred day simple moving average is $19.91.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Monday, August 19th. The company reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $1.01. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.71 billion. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. During the same period in the prior year, the firm posted ($1.37) EPS. On average, equities analysts predict that ZIM Integrated Shipping Services will post 12.11 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 29th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 14.69%. 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 -1.41%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ZIM. Fairman Group LLC purchased a new position in ZIM Integrated Shipping Services in the 3rd quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in ZIM Integrated Shipping Services during the 3rd quarter worth approximately $31,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of ZIM Integrated Shipping Services by 2,341.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock worth $43,000 after buying an additional 1,850 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of ZIM Integrated Shipping Services by 1,431.1% during the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after purchasing an additional 5,667 shares during the last quarter. Finally, American Capital Advisory LLC acquired a new position in ZIM Integrated Shipping Services in the third quarter worth about $69,000. 21.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ZIM. Jefferies Financial Group downgraded ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research note on Wednesday, October 2nd. Barclays lifted their price objective on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Bank of America raised their price target on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $15.22.

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.