ZIM Integrated Shipping Services (NYSE:ZIM) Shares Down 4.6% Following Analyst Downgrade

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares were down 4.6% during mid-day trading on Tuesday after Jefferies Financial Group lowered their price target on the stock from $28.00 to $22.00. Jefferies Financial Group currently has a hold rating on the stock. ZIM Integrated Shipping Services traded as low as $18.16 and last traded at $18.62. Approximately 1,538,059 shares traded hands during trading, a decline of 75% from the average daily volume of 6,235,402 shares. The stock had previously closed at $19.51.

Other equities analysts have also recently issued research reports about the stock. Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Fearnley Fonds lowered shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Bank of America lifted their price objective on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Finally, Barclays raised their target price on ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the stock an “underweight” rating in a research report on Monday, November 25th. Five analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $15.14.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of large investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its stake in ZIM Integrated Shipping Services by 479.9% in the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock worth $58,429,000 after purchasing an additional 2,181,000 shares in the last quarter. Marshall Wace LLP increased its position in ZIM Integrated Shipping Services by 638.6% in the 2nd quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock valued at $53,148,000 after acquiring an additional 2,072,715 shares in the last quarter. American Century Companies Inc. raised its stake in shares of ZIM Integrated Shipping Services by 7.8% in the second quarter. American Century Companies Inc. now owns 1,759,141 shares of the company’s stock worth $39,000,000 after acquiring an additional 127,229 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of ZIM Integrated Shipping Services by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 860,456 shares of the company’s stock worth $22,079,000 after purchasing an additional 36,692 shares in the last quarter. Finally, Encompass Capital Advisors LLC bought a new position in ZIM Integrated Shipping Services in the 2nd quarter worth approximately $14,383,000. 21.42% of the stock is currently owned by institutional investors.

ZIM Integrated Shipping Services Stock Performance

The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 1.63, a P/E/G ratio of 0.04 and a beta of 1.78. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The firm has a fifty day simple moving average of $22.40 and a 200-day simple moving average of $20.69.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a dividend of $2.81 per share. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 annualized dividend and a yield of 61.35%. The ex-dividend date was Monday, December 2nd. ZIM Integrated Shipping Services’s payout ratio is currently 9.72%.

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.