ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) shares dropped 9.9% during trading on Friday . The company traded as low as $18.54 and last traded at $18.67. Approximately 2,248,043 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 4,416,956 shares. The stock had previously closed at $20.72.
Wall Street Analysts Forecast Growth
ZIM has been the subject of a number of recent analyst reports. Fearnley Fonds cut shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong sell" rating in a research report on Thursday, November 21st. Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Jefferies Financial Group reduced their target price on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a "hold" rating for the company in a research note on Tuesday, December 17th. Finally, Barclays reduced their target price on shares of ZIM Integrated Shipping Services from $16.50 to $16.00 and set an "underweight" rating for the company in a research note on Friday. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $15.04.
Check Out Our Latest Analysis on ZIM
ZIM Integrated Shipping Services Stock Performance
The stock's 50 day moving average price is $22.09 and its 200 day moving average price is $20.79. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 1.61, a P/E/G ratio of 0.04 and a beta of 1.77.
ZIM Integrated Shipping Services Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were paid a dividend of $2.81 per share. This represents a $11.24 dividend on an annualized basis and a dividend yield of 58.57%. This is an increase from ZIM Integrated Shipping Services's previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, December 2nd. ZIM Integrated Shipping Services's dividend payout ratio is currently 9.72%.
Hedge Funds Weigh In On ZIM Integrated Shipping Services
A number of large investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its stake in shares of ZIM Integrated Shipping Services by 479.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company's stock worth $58,429,000 after buying an additional 2,181,000 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of ZIM Integrated Shipping Services by 638.6% during the 2nd quarter. Marshall Wace LLP now owns 2,397,311 shares of the company's stock worth $53,148,000 after buying an additional 2,072,715 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in ZIM Integrated Shipping Services by 59.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company's stock valued at $46,482,000 after purchasing an additional 674,723 shares during the last quarter. American Century Companies Inc. lifted its stake in ZIM Integrated Shipping Services by 7.8% in the 2nd quarter. American Century Companies Inc. now owns 1,759,141 shares of the company's stock valued at $39,000,000 after purchasing an additional 127,229 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in ZIM Integrated Shipping Services by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 860,456 shares of the company's stock valued at $22,079,000 after purchasing an additional 36,692 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
(
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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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