ZIM Integrated Shipping Services (NYSE:ZIM) Trading Up 0.6%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price was up 0.6% during trading on Tuesday . The stock traded as high as $19.27 and last traded at $18.88. Approximately 1,847,144 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 6,389,706 shares. The stock had previously closed at $18.76.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barclays increased their price target on 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. Citigroup downgraded 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. Jefferies Financial Group reissued a “buy” rating and set a $20.00 price target on shares of ZIM Integrated Shipping Services in a research report on Wednesday, May 22nd. Bank of America dropped their price target on ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating on the stock in a research report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. dropped their price target on ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.01.

ZIM Integrated Shipping Services Stock Performance

The company has a debt-to-equity ratio of 1.49, a current ratio of 0.98 and a quick ratio of 0.90. The firm has a fifty day moving average of $19.50 and a 200 day moving average of $14.47. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -0.86, a price-to-earnings-growth ratio of 0.17 and a beta of 1.85.

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

ZIM Integrated Shipping Services Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, June 4th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.92 dividend on an annualized basis and a yield of 5.15%. ZIM Integrated Shipping Services’s payout ratio is -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of institutional investors have recently added to or reduced their stakes in ZIM. Tower Research Capital LLC TRC raised its position in 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 purchasing an additional 1,601 shares during the period. Blue Trust Inc. grew its stake in ZIM Integrated Shipping Services by 604.3% during the 4th quarter. Blue Trust Inc. now owns 4,296 shares of the company’s stock worth $45,000 after purchasing an additional 3,686 shares in the last quarter. Citigroup Inc. grew its stake in ZIM Integrated Shipping Services by 77.1% during the 3rd quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock worth $56,000 after purchasing an additional 2,352 shares in the last quarter. Scarborough Advisors LLC acquired a new position in ZIM Integrated Shipping Services during the 4th quarter worth $58,000. Finally, Russell Investments Group Ltd. boosted its position in shares of ZIM Integrated Shipping Services by 1,431.1% during the 1st quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after acquiring an additional 5,667 shares in the last quarter. Hedge funds and other 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.