ZIM Integrated Shipping Services (NYSE:ZIM) Trading Down 6.5% on Analyst Downgrade

ZIM Integrated Shipping Services Ltd. (NYSE:ZIMGet Rating)’s share price fell 6.5% on Friday after Barclays lowered their price target on the stock from $63.00 to $26.50. Barclays currently has an equal weight rating on the stock. ZIM Integrated Shipping Services traded as low as $23.83 and last traded at $23.91. 112,210 shares were traded during trading, a decline of 97% from the average session volume of 4,082,842 shares. The stock had previously closed at $25.57.

Other research analysts have also issued research reports about the stock. Citigroup lowered shares of ZIM Integrated Shipping Services from a “buy” rating to a “neutral” rating in a research note on Monday, August 22nd. The Goldman Sachs Group lowered their price objective on shares of ZIM Integrated Shipping Services from $60.00 to $30.00 in a report on Tuesday, September 20th. Jefferies Financial Group lowered their target price on shares of ZIM Integrated Shipping Services from $55.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, October 7th. Finally, TheStreet downgraded shares of ZIM Integrated Shipping Services from a “c-” rating to a “d+” rating in a report on Thursday, September 22nd. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $35.36.

Institutional Trading of ZIM Integrated Shipping Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of ZIM Integrated Shipping Services during the 2nd quarter worth approximately $28,000. Cullen Frost Bankers Inc. bought a new position in shares of ZIM Integrated Shipping Services in the 1st quarter worth $29,000. Exchange Traded Concepts LLC lifted its holdings in shares of ZIM Integrated Shipping Services by 92.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,406 shares of the company’s stock worth $33,000 after purchasing an additional 676 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of ZIM Integrated Shipping Services in the 3rd quarter worth $35,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in ZIM Integrated Shipping Services in the 1st quarter valued at $40,000. Institutional investors and hedge funds own 42.82% of the company’s stock.

ZIM Integrated Shipping Services Price Performance

The firm has a market capitalization of $2.97 billion, a PE ratio of 0.50 and a beta of 2.41. The business has a 50-day moving average of $25.61 and a 200 day moving average of $42.74. The company has a current ratio of 1.64, a quick ratio of 1.57 and a debt-to-equity ratio of 0.59.

ZIM Integrated Shipping Services (NYSE:ZIMGet Rating) last announced its earnings results on Wednesday, August 17th. The company reported $11.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.16 by ($1.09). ZIM Integrated Shipping Services had a net margin of 42.71% and a return on equity of 125.68%. The business had revenue of $3.43 billion for the quarter. During the same period in the previous year, the company posted $7.38 earnings per share. As a group, research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 38.03 EPS for the current fiscal year.

ZIM Integrated Shipping Services Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 7th. Shareholders of record on Tuesday, November 29th will be paid a $2.95 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $11.80 annualized dividend and a yield of 47.62%. ZIM Integrated Shipping Services’s dividend payout ratio is currently 38.70%.

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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