ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down to $19.83

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $19.83, but opened at $18.50. ZIM Integrated Shipping Services shares last traded at $18.14, with a volume of 1,755,717 shares.

Analyst Ratings Changes

Several equities research analysts have commented on ZIM shares. Citigroup cut shares of ZIM Integrated Shipping Services from a "neutral" rating to a "sell" rating and boosted their price target for the stock from $11.60 to $13.00 in a research report on Thursday, June 6th. Jefferies Financial Group reiterated a "buy" rating and issued a $20.00 price target on shares of ZIM Integrated Shipping Services in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. dropped their price target on shares of 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. Bank of America dropped their price target on shares of 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, Barclays boosted their price target on shares of 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. Three investment 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. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $12.01.

ZIM Integrated Shipping Services Price Performance

The stock has a 50 day moving average of $19.50 and a two-hundred day moving average of $14.47. The stock has a market cap of $2.15 billion, a PE ratio of -0.86, a PEG ratio of 0.17 and a beta of 1.85. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.90 and a current ratio of 0.98.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its quarterly earnings results on Tuesday, May 21st. The company reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $1.09 by ($0.34). The company had revenue of $1.56 billion during the quarter, compared to analysts' expectations of $1.53 billion. ZIM Integrated Shipping Services had a negative return on equity of 14.80% and a negative net margin of 47.59%. Equities analysts anticipate 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 paid 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 5.15%. ZIM Integrated Shipping Services's dividend payout ratio (DPR) is presently -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its stake in ZIM Integrated Shipping Services by 92.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,335 shares of the company's stock valued at $33,000 after acquiring an additional 1,601 shares in the last quarter. 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 valued at $45,000 after acquiring 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 valued at $56,000 after acquiring an additional 2,352 shares in the last quarter. Scarborough Advisors LLC purchased a new position in ZIM Integrated Shipping Services during the 4th quarter valued at about $58,000. Finally, Russell Investments Group Ltd. grew its stake in 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 valued at $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.

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.