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

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $21.45, but opened at $20.75. ZIM Integrated Shipping Services shares last traded at $20.76, with a volume of 893,642 shares.

Analyst Ratings Changes

Several research analysts recently commented on ZIM shares. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Jefferies Financial Group dropped their price objective on ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating on the stock in a research note on Tuesday, December 17th. Clarkson Capital upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Barclays lifted their price target 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. Finally, Fearnley Fonds cut ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.14.

ZIM Integrated Shipping Services Stock Performance

The stock has a 50 day moving average price of $22.18 and a two-hundred day moving average price of $20.78. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 1.72, a price-to-earnings-growth ratio of 0.04 and a beta of 1.77.

ZIM Integrated Shipping Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were issued a $2.81 dividend. 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. This represents a $11.24 annualized dividend and a yield of 54.86%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently 9.72%.

Institutional Trading of ZIM Integrated Shipping Services

Several institutional investors and hedge funds have recently made changes to their positions in ZIM. JPMorgan Chase & Co. increased its holdings in ZIM Integrated Shipping Services by 59.4% in the third quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock valued at $46,482,000 after purchasing an additional 674,723 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of ZIM Integrated Shipping Services in the 3rd quarter valued at approximately $893,000. Sunbelt Securities Inc. bought a new position in ZIM Integrated Shipping Services during the 3rd quarter worth approximately $71,000. Geode Capital Management LLC grew its holdings in ZIM Integrated Shipping Services by 3.4% during the third quarter. Geode Capital Management LLC now owns 88,086 shares of the company’s stock valued at $2,260,000 after purchasing an additional 2,873 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in ZIM Integrated Shipping Services in the third quarter valued at approximately $3,364,000. Institutional investors own 21.42% of the company’s stock.

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.