ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Given Average Rating of “Strong Sell” by Brokerages

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) have been given a consensus recommendation of “Strong Sell” by the six analysts that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a sell recommendation and one has assigned a hold recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $15.22.

A number of research firms recently commented on ZIM. Fearnley Fonds cut ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Barclays upped their price target on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group restated a “hold” rating and set a $25.00 price target on shares of ZIM Integrated Shipping Services in a research note on Wednesday. Finally, Bank of America upped their price target on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several hedge funds have recently made changes to their positions in ZIM. International Assets Investment Management LLC increased its holdings in ZIM Integrated Shipping Services by 2,228.7% in the third quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock valued at $10,337,000 after buying an additional 385,562 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in ZIM Integrated Shipping Services in the second quarter valued at about $2,343,000. SG Americas Securities LLC increased its holdings in ZIM Integrated Shipping Services by 1,226.7% in the third quarter. SG Americas Securities LLC now owns 343,581 shares of the company’s stock valued at $8,816,000 after buying an additional 317,684 shares in the last quarter. Clear Harbor Asset Management LLC increased its holdings in ZIM Integrated Shipping Services by 337.7% in the third quarter. Clear Harbor Asset Management LLC now owns 51,450 shares of the company’s stock valued at $1,320,000 after buying an additional 39,695 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in ZIM Integrated Shipping Services by 306.7% in the second quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock valued at $9,440,000 after buying an additional 321,100 shares in the last quarter. Institutional investors and hedge funds own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Trading Down 1.8 %

Shares of ZIM Integrated Shipping Services stock opened at $23.79 on Friday. The stock has a market cap of $2.86 billion, a P/E ratio of 1.99, a P/E/G ratio of 0.04 and a beta of 1.88. The stock’s 50 day simple moving average is $22.78 and its 200-day simple moving average is $20.47. ZIM Integrated Shipping Services has a 1-year low of $6.39 and a 1-year high of $30.15. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 0.97.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be paid a $2.81 dividend. This represents a $11.24 annualized dividend and a yield of 47.25%. The ex-dividend date is Monday, December 2nd. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s dividend 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.