ZIM Integrated Shipping Services (NYSE:ZIM) Shares Down 3.3% - What's Next?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) dropped 3.3% during mid-day trading on Friday . The company traded as low as $22.47 and last traded at $22.54. Approximately 1,123,297 shares traded hands during trading, a decline of 70% from the average daily volume of 3,709,441 shares. The stock had previously closed at $23.31.

Wall Street Analyst Weigh In

ZIM has been the topic of a number of recent analyst reports. Fearnley Fonds lowered ZIM Integrated Shipping Services from a "hold" rating to a "strong sell" rating in a research report on Thursday, November 21st. Barclays increased their price objective on shares of ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an "underweight" rating in a research note on Monday, November 25th. Clarkson Capital raised shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group lowered their price objective on ZIM Integrated Shipping Services from $28.00 to $22.00 and set a "hold" rating for the company in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $15.14.

ZIM Integrated Shipping Services Price Performance

The company has a market cap of $2.71 billion, a P/E ratio of 1.88, a PEG ratio of 0.04 and a beta of 1.78. 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 fifty day simple moving average of $22.21 and a 200-day simple moving average of $20.72.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were paid a $2.81 dividend. This is a positive change from ZIM Integrated Shipping Services's previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a yield of 49.98%. ZIM Integrated Shipping Services's dividend payout ratio (DPR) is currently 9.72%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew its stake in shares of ZIM Integrated Shipping Services by 479.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company's stock valued at $58,429,000 after buying an additional 2,181,000 shares in the last quarter. Marshall Wace LLP lifted its stake in ZIM Integrated Shipping Services by 638.6% in the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company's stock valued at $53,148,000 after acquiring an additional 2,072,715 shares during the last quarter. JPMorgan Chase & Co. grew its position 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 worth $46,482,000 after acquiring an additional 674,723 shares in the last quarter. American Century Companies Inc. increased its stake in shares of ZIM Integrated Shipping Services by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 1,759,141 shares of the company's stock worth $39,000,000 after purchasing an additional 127,229 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of ZIM Integrated Shipping Services by 4.5% during 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 in the last quarter. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.