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

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

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

ZIM Integrated Shipping Services Price Performance

ZIM traded down $0.45 during midday trading on Thursday, hitting $23.78. The stock had a trading volume of 8,407,359 shares, compared to its average volume of 6,324,588. The company has a market cap of $2.86 billion, a P/E ratio of 1.99, a price-to-earnings-growth ratio of 0.04 and a beta of 1.88. ZIM Integrated Shipping Services has a 1 year low of $6.39 and a 1 year high of $30.15. The business has a fifty day moving average of $22.78 and a 200 day moving average of $20.47. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.97 and a current ratio of 1.33.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be given a dividend of $2.81 per share. The ex-dividend date is Monday, December 2nd. This represents a $11.24 annualized dividend and a dividend yield of 47.27%. This is a positive change from ZIM Integrated Shipping Services's previous quarterly dividend of $0.93. ZIM Integrated Shipping Services's dividend payout ratio is presently 9.72%.

Institutional Trading of ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZIM. Fairman Group LLC purchased a new stake in ZIM Integrated Shipping Services in the 3rd quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of ZIM Integrated Shipping Services during the third quarter worth $31,000. Northwestern Mutual Wealth Management Co. increased its holdings in ZIM Integrated Shipping Services by 2,341.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company's stock valued at $43,000 after acquiring an additional 1,850 shares during the last quarter. American Capital Advisory LLC purchased a new stake in shares of ZIM Integrated Shipping Services in the third quarter worth about $69,000. Finally, Sunbelt Securities Inc. bought a new stake in ZIM Integrated Shipping Services in the 3rd quarter worth approximately $71,000. 21.42% of the stock is 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.