Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Free Report) traded down 13.8% during trading on Monday . The stock traded as low as $18.71 and last traded at $19.06. 4,867,435 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 6,368,346 shares. The stock had previously closed at $22.11.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Bank of America reduced their price objective on shares of ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating for the company in a research note on Tuesday, March 19th. Jefferies Financial Group reiterated a “buy” rating and issued a $20.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday, May 22nd. Citigroup cut shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and raised their price objective for the company from $11.60 to $13.00 in a research note on Thursday, June 6th. Finally, Barclays raised their price objective on shares of ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the company an “underweight” rating in a research note on Tuesday, May 28th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.01.
ZIM Integrated Shipping Services Price Performance
The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.90 and a current ratio of 0.98. The company’s fifty day simple moving average is $19.13 and its two-hundred day simple moving average is $14.32. The stock has a market capitalization of $2.26 billion, a PE ratio of -0.90, a P/E/G ratio of 0.20 and a beta of 1.85.
ZIM Integrated Shipping Services (NYSE:ZIM – Get Free Report) last posted 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). ZIM Integrated Shipping Services had a negative net margin of 47.59% and a negative return on equity of 14.80%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.53 billion. As a group, sell-side analysts predict that ZIM Integrated Shipping Services Ltd. will post 3.42 EPS for the current year.
ZIM Integrated Shipping Services Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 4th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.92 annualized dividend and a yield of 4.90%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently -4.35%.
Hedge Funds Weigh In On ZIM Integrated Shipping Services
Several hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its holdings in shares of ZIM Integrated Shipping Services by 92.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,335 shares of the company’s stock worth $33,000 after buying an additional 1,601 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of ZIM Integrated Shipping Services by 604.3% during the fourth quarter. Blue Trust Inc. now owns 4,296 shares of the company’s stock worth $45,000 after buying an additional 3,686 shares in the last quarter. Citigroup Inc. grew its holdings in shares of ZIM Integrated Shipping Services by 77.1% during the third quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock worth $56,000 after buying an additional 2,352 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the fourth quarter worth about $58,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of ZIM Integrated Shipping Services by 1,431.1% during the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after buying an additional 5,667 shares in the last quarter. 21.42% of the stock is currently owned by hedge funds and other institutional investors.
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.