ZIM Integrated Shipping Services (NYSE:ZIM) Trading Down 3.6% - Here's Why

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) shares dropped 3.6% on Tuesday . The company traded as low as $13.63 and last traded at $13.71. Approximately 2,107,885 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 6,067,842 shares. The stock had previously closed at $14.22.

Wall Street Analyst Weigh In

ZIM has been the subject of several research reports. Bank of America decreased their price target on shares of ZIM Integrated Shipping Services from $16.00 to $12.80 and set an "underperform" rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. reduced their price target on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an "underweight" rating for the company in a research report on Friday, March 7th. Jefferies Financial Group reissued a "hold" rating and issued a $18.00 price target on shares of ZIM Integrated Shipping Services in a research report on Wednesday, March 12th. Finally, Barclays decreased their price objective on shares of ZIM Integrated Shipping Services from $13.50 to $12.00 and set an "underweight" rating for the company in a report on Wednesday. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $13.06.

ZIM Integrated Shipping Services Trading Up 2.0 %

The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 1.15, a price-to-earnings-growth ratio of 0.27 and a beta of 1.84. The business has a fifty day moving average price of $17.27 and a 200 day moving average price of $19.64.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last released its earnings results on Wednesday, March 12th. The company reported $4.66 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $1.19. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.99 billion. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. On average, equities analysts expect that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th were issued a $3.17 dividend. This is a positive change from ZIM Integrated Shipping Services's previous quarterly dividend of $2.81. The ex-dividend date was Monday, March 24th. This represents a $12.68 annualized dividend and a dividend yield of 92.19%. ZIM Integrated Shipping Services's dividend payout ratio is presently 6.51%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZIM. JPMorgan Chase & Co. lifted its holdings in ZIM Integrated Shipping Services by 59.4% in the third quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company's stock valued at $46,482,000 after buying an additional 674,723 shares during the period. Raymond James Financial Inc. bought a new stake in ZIM Integrated Shipping Services in the fourth quarter valued at about $1,771,000. Decker Retirement Planning Inc. bought a new position in ZIM Integrated Shipping Services during the fourth quarter worth about $5,509,000. HighTower Advisors LLC grew its position in shares of ZIM Integrated Shipping Services by 20.5% during the 4th quarter. HighTower Advisors LLC now owns 12,246 shares of the company's stock worth $263,000 after buying an additional 2,080 shares during the period. Finally, Truist Financial Corp increased its stake in shares of ZIM Integrated Shipping Services by 10.2% in the 4th quarter. Truist Financial Corp now owns 14,804 shares of the company's stock valued at $318,000 after acquiring an additional 1,376 shares during the last quarter. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.