ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down – What’s Next?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares gapped down prior to trading on Monday . The stock had previously closed at $19.88, but opened at $19.40. ZIM Integrated Shipping Services shares last traded at $19.29, with a volume of 823,564 shares changing hands.

Analyst Upgrades and Downgrades

ZIM has been the topic of several research reports. Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Jefferies Financial Group decreased their target price on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. restated 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. Bank of America upped their price target on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Finally, Fearnley Fonds lowered ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.14.

ZIM Integrated Shipping Services Stock Performance

The business’s fifty day moving average is $22.38 and its 200-day moving average is $20.66. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The company has a market cap of $2.22 billion, a PE ratio of 1.54, a P/E/G ratio of 0.04 and a beta of 1.78.

ZIM Integrated Shipping Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were issued a $2.81 dividend. This represents a $11.24 annualized dividend and a dividend yield of 61.07%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, December 2nd. ZIM Integrated Shipping Services’s payout ratio is 9.72%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp boosted its holdings in ZIM Integrated Shipping Services by 1.6% during the 3rd quarter. Van ECK Associates Corp now owns 38,079 shares of the company’s stock valued at $977,000 after acquiring an additional 591 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of ZIM Integrated Shipping Services by 2.1% during the third quarter. Janney Montgomery Scott LLC now owns 44,292 shares of the company’s stock valued at $1,137,000 after acquiring an additional 915 shares in the last quarter. Fairman Group LLC purchased a new stake in ZIM Integrated Shipping Services in the third quarter valued at approximately $26,000. Olympiad Research LP increased its stake in shares of ZIM Integrated Shipping Services by 12.9% in the 3rd quarter. Olympiad Research LP now owns 10,588 shares of the company’s stock valued at $272,000 after purchasing an additional 1,212 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter valued at approximately $31,000. 21.42% of the stock is owned by institutional investors.

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.