ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Rating)’s stock price was down 6.5% on Friday after Barclays lowered their price target on the stock from $63.00 to $26.50. Barclays currently has an equal weight rating on the stock. ZIM Integrated Shipping Services traded as low as $23.83 and last traded at $23.91. Approximately 112,210 shares changed hands during trading, a decline of 97% from the average daily volume of 4,082,842 shares. The stock had previously closed at $25.57.
ZIM has been the subject of several other research reports. Citigroup downgraded ZIM Integrated Shipping Services from a “buy” rating to a “neutral” rating in a research note on Monday, August 22nd. The Goldman Sachs Group cut their price objective on ZIM Integrated Shipping Services from $60.00 to $30.00 in a research report on Tuesday, September 20th. Jefferies Financial Group lowered their price objective on ZIM Integrated Shipping Services from $55.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, October 7th. Finally, TheStreet lowered ZIM Integrated Shipping Services from a “c-” rating to a “d+” rating in a report on Thursday, September 22nd. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $35.36.
Hedge Funds Weigh In On ZIM Integrated Shipping Services
Hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. acquired a new position in ZIM Integrated Shipping Services in the second quarter valued at $28,000. Cullen Frost Bankers Inc. acquired a new stake in ZIM Integrated Shipping Services during the first quarter worth approximately $29,000. Exchange Traded Concepts LLC boosted its holdings in shares of ZIM Integrated Shipping Services by 92.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,406 shares of the company’s stock valued at $33,000 after purchasing an additional 676 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter valued at $35,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of ZIM Integrated Shipping Services during the 1st quarter valued at $40,000. 42.82% of the stock is currently owned by hedge funds and other institutional investors.
ZIM Integrated Shipping Services Price Performance
The company’s 50 day moving average is $25.72 and its 200-day moving average is $42.86. The stock has a market cap of $2.85 billion, a PE ratio of 0.49 and a beta of 2.41. The company has a current ratio of 1.64, a quick ratio of 1.57 and a debt-to-equity ratio of 0.59.
ZIM Integrated Shipping Services (NYSE:ZIM – Get Rating) last issued its quarterly earnings results on Wednesday, August 17th. The company reported $11.07 earnings per share for the quarter, missing analysts’ consensus estimates of $12.16 by ($1.09). ZIM Integrated Shipping Services had a return on equity of 125.68% and a net margin of 42.71%. The company had revenue of $3.43 billion during the quarter. During the same period in the prior year, the company posted $7.38 earnings per share. As a group, sell-side analysts predict that ZIM Integrated Shipping Services Ltd. will post 38.03 earnings per share for the current year.
ZIM Integrated Shipping Services Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 7th. Investors of record on Tuesday, November 29th will be issued a dividend of $2.95 per share. This represents a $11.80 annualized dividend and a dividend yield of 49.66%. The ex-dividend date of this dividend is Monday, November 28th. ZIM Integrated Shipping Services’s dividend payout ratio is currently 38.70%.
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.