ZIM Integrated Shipping Services (NYSE:ZIM) Trading Down 13.8%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price traded down 13.8% during mid-day trading on Monday . The company traded as low as $18.71 and last traded at $19.06. 4,867,435 shares were traded during mid-day trading, a decline of 24% from the average session volume of 6,368,346 shares. The stock had previously closed at $22.11.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Citigroup downgraded shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $11.60 to $13.00 in a research note on Thursday, June 6th. Jefferies Financial Group restated a “buy” rating and set a $20.00 price objective on shares of ZIM Integrated Shipping Services in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. reduced their price objective on shares of ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Bank of America reduced their price objective on shares of ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating for the company in a research report on Tuesday, March 19th. Finally, Barclays boosted their price objective on shares of ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 28th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.01.

ZIM Integrated Shipping Services Stock Up 2.2 %

The business’s fifty day moving average price is $19.37 and its 200 day moving average price is $14.43. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -0.92, a PEG ratio of 0.17 and a beta of 1.85. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 1.49.

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

ZIM Integrated Shipping Services Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, June 4th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.64%. ZIM Integrated Shipping Services’s payout ratio is -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its stake in shares of ZIM Integrated Shipping Services by 92.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,335 shares of the company’s stock worth $33,000 after purchasing an additional 1,601 shares during the period. Blue Trust Inc. grew its stake in shares of ZIM Integrated Shipping Services by 604.3% during 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 during the period. Citigroup Inc. grew its stake in shares of ZIM Integrated Shipping Services by 77.1% during 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 during the period. Scarborough Advisors LLC acquired a new position in shares of ZIM Integrated Shipping Services during the 4th quarter worth $58,000. Finally, Russell Investments Group Ltd. grew its stake in shares of ZIM Integrated Shipping Services by 1,431.1% during the 1st 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 period. 21.42% of the stock is owned by institutional investors and hedge funds.

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.