ZIM Integrated Shipping Services (NYSE:ZIM) Cut to “Strong Sell” at Fearnley Fonds

Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services (NYSE:ZIM) from a hold rating to a strong sell rating in a research report released on Thursday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Barclays lifted their target price on shares of ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $25.00 price objective on shares of ZIM Integrated Shipping Services in a research report on Wednesday. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $10.50 target price on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Finally, Bank of America raised their target price on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Five analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. According to data from MarketBeat.com, ZIM Integrated Shipping Services currently has a consensus rating of “Reduce” and a consensus price target of $15.22.

ZIM Integrated Shipping Services Stock Performance

Shares of ZIM stock opened at $23.79 on Thursday. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 1.99, a PEG ratio of 0.04 and a beta of 1.88. The stock has a fifty day moving average of $22.78 and a 200 day moving average of $20.47. ZIM Integrated Shipping Services has a 52 week low of $6.39 and a 52 week high of $30.15. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 1.11.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be issued a dividend of $2.81 per share. This represents a $11.24 annualized dividend and a dividend yield of 47.25%. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date is Monday, December 2nd. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently 9.72%.

Institutional Trading of ZIM Integrated Shipping Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its holdings in ZIM Integrated Shipping Services by 479.9% in the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock worth $58,429,000 after buying an additional 2,181,000 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of ZIM Integrated Shipping Services by 638.6% during the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock valued at $53,148,000 after buying an additional 2,072,715 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of ZIM Integrated Shipping Services by 7.8% during the second quarter. American Century Companies Inc. now owns 1,759,141 shares of the company’s stock valued at $39,000,000 after buying an additional 127,229 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of ZIM Integrated Shipping Services by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 860,456 shares of the company’s stock valued at $22,079,000 after buying an additional 36,692 shares during the last quarter. Finally, Encompass Capital Advisors LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the second quarter valued at approximately $14,383,000. 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.