ZIM Integrated Shipping Services (NYSE:ZIM) Trading Up 0.7%

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) traded up 0.7% during trading on Thursday . The company traded as high as $23.37 and last traded at $22.73. 1,781,716 shares traded hands during trading, a decline of 67% from the average session volume of 5,325,223 shares. The stock had previously closed at $22.58.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $20.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday, May 22nd. Citigroup lowered 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 report on Thursday, June 6th. Bank of America reduced their price target 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. Barclays increased their price target 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. Finally, JPMorgan Chase & Co. reduced their price target 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. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. According to MarketBeat, ZIM Integrated Shipping Services presently has a consensus rating of “Hold” and a consensus target price of $12.01.

ZIM Integrated Shipping Services Stock Up 0.7 %

The business has a fifty day moving average of $18.73 and a 200 day moving average of $14.11. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -1.07, a P/E/G ratio of 0.20 and a beta of 1.85. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.98 and a quick ratio of 0.90.

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

ZIM Integrated Shipping Services Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 4th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.92 annualized dividend and a yield of 4.05%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Regatta Capital Group LLC grew its holdings in ZIM Integrated Shipping Services by 8.5% during the first quarter. Regatta Capital Group LLC now owns 16,022 shares of the company’s stock valued at $162,000 after purchasing an additional 1,254 shares during the last quarter. Olympiad Research LP boosted its position in shares of ZIM Integrated Shipping Services by 2.8% in the fourth quarter. Olympiad Research LP now owns 49,236 shares of the company’s stock valued at $486,000 after acquiring an additional 1,364 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of ZIM Integrated Shipping Services by 92.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,335 shares of the company’s stock valued at $33,000 after acquiring an additional 1,601 shares during the period. Citigroup Inc. boosted its position in shares of ZIM Integrated Shipping Services by 77.1% in the third quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock valued at $56,000 after acquiring an additional 2,352 shares during the period. Finally, California State Teachers Retirement System boosted its position in shares of ZIM Integrated Shipping Services by 2.4% in the first quarter. California State Teachers Retirement System now owns 104,767 shares of the company’s stock valued at $1,060,000 after acquiring an additional 2,423 shares during the period. 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.