ZIM Integrated Shipping Services (NYSE:ZIM) Trading Down 2.3%

ZIM Integrated Shipping Services (NYSE:ZIM) Trading Down 2.3%


ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Rating)’s share price traded down 2.3% on Friday . The company traded as low as $45.71 and last traded at $46.40. 24,595 shares were traded during trading, a decline of 100% from the average session volume of 5,631,266 shares. The stock had previously closed at $47.51.

A number of analysts have weighed in on the company. Jefferies Financial Group increased their price objective on ZIM Integrated Shipping Services from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, March 10th. Clarkson Capital reaffirmed a “neutral” rating on shares of ZIM Integrated Shipping Services in a research report on Tuesday, June 14th. Finally, JPMorgan Chase & Co. raised ZIM Integrated Shipping Services from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $43.60 to $53.30 in a research report on Friday, June 17th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $80.83.

The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.26 and a current ratio of 1.29. The firm has a fifty day moving average price of $59.39 and a 200 day moving average price of $63.15. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 0.97 and a beta of 2.40.

ZIM Integrated Shipping Services (NYSE:ZIM – Get Rating) last posted its quarterly earnings results on Wednesday, May 18th. The company reported $14.19 EPS for the quarter, beating the consensus estimate of $12.65 by $1.54. The business had revenue of $3.72 billion during the quarter. ZIM Integrated Shipping Services had a return on equity of 167.57% and a net margin of 45.36%. During the same period in the prior year, the business earned $5.13 earnings per share. Research analysts predict that ZIM Integrated Shipping Services Ltd. will post 40.5 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 8th. Investors of record on Tuesday, May 31st were paid a $2.85 dividend. This represents a $11.40 annualized dividend and a yield of 24.60%. The ex-dividend date was Friday, May 27th. ZIM Integrated Shipping Services’s payout ratio is currently 23.80%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZIM. Renaissance Technologies LLC increased its position in ZIM Integrated Shipping Services by 166.9% during the first quarter. Renaissance Technologies LLC now owns 4,062,538 shares of the company’s stock worth $295,387,000 after buying an additional 2,540,500 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd grew its position in shares of ZIM Integrated Shipping Services by 350.5% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,682,724 shares of the company’s stock valued at $234,088,000 after purchasing an additional 2,087,230 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of ZIM Integrated Shipping Services by 123.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,433,175 shares of the company’s stock valued at $249,626,000 after purchasing an additional 1,897,990 shares during the period. Marshall Wace LLP grew its position in shares of ZIM Integrated Shipping Services by 204.8% in the fourth quarter. Marshall Wace LLP now owns 2,708,036 shares of the company’s stock valued at $159,397,000 after purchasing an additional 1,819,550 shares during the period. Finally, Credit Suisse AG grew its position in shares of ZIM Integrated Shipping Services by 5,999.9% in the fourth quarter. Credit Suisse AG now owns 964,764 shares of the company’s stock valued at $56,786,000 after purchasing an additional 948,948 shares during the period. 47.33% of the stock is owned by hedge funds and other institutional investors.

ZIM Integrated Shipping Services Company Profile (NYSE:ZIM)

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.

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