Raymond James Financial Services Advisors Inc. Boosts Position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Raymond James Financial Services Advisors Inc. boosted its holdings in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIMGet Rating) by 57.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 49,894 shares of the company’s stock after purchasing an additional 18,197 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in ZIM Integrated Shipping Services were worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ZIM. Renaissance Technologies LLC raised its position in ZIM Integrated Shipping Services by 166.9% during the 1st quarter. Renaissance Technologies LLC now owns 4,062,538 shares of the company’s stock worth $295,387,000 after buying an additional 2,540,500 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in ZIM Integrated Shipping Services by 123.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,433,175 shares of the company’s stock worth $249,626,000 after buying an additional 1,897,990 shares during the last quarter. State Street Corp increased its holdings in shares of ZIM Integrated Shipping Services by 315.6% during the 2nd quarter. State Street Corp now owns 1,231,540 shares of the company’s stock valued at $58,166,000 after purchasing an additional 935,223 shares in the last quarter. Credit Suisse AG increased its holdings in shares of ZIM Integrated Shipping Services by 118.7% during the 2nd quarter. Credit Suisse AG now owns 1,483,507 shares of the company’s stock valued at $70,067,000 after purchasing an additional 805,164 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of ZIM Integrated Shipping Services by 447.2% during the 3rd quarter. Mackenzie Financial Corp now owns 813,225 shares of the company’s stock valued at $19,111,000 after purchasing an additional 664,617 shares in the last quarter. 36.74% of the stock is owned by hedge funds and other institutional investors.

ZIM Integrated Shipping Services Price Performance

Shares of NYSE ZIM opened at $18.40 on Friday. The firm has a market cap of $2.21 billion, a PE ratio of 0.36 and a beta of 2.37. The firm has a fifty day moving average of $19.70 and a 200 day moving average of $30.32. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 1.58. ZIM Integrated Shipping Services Ltd. has a one year low of $16.23 and a one year high of $91.23.

ZIM Integrated Shipping Services (NYSE:ZIMGet Rating) last issued its quarterly earnings results on Wednesday, November 16th. The company reported $9.66 EPS for the quarter, topping the consensus estimate of $9.46 by $0.20. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.01 billion. ZIM Integrated Shipping Services had a net margin of 42.71% and a return on equity of 118.65%. As a group, research analysts predict that ZIM Integrated Shipping Services Ltd. will post 37.1 EPS for the current fiscal year.

ZIM Integrated Shipping Services Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 7th. Investors of record on Tuesday, November 29th were issued a $2.95 dividend. This represents a $11.80 annualized dividend and a yield of 64.13%. The ex-dividend date was Monday, November 28th. ZIM Integrated Shipping Services’s payout ratio is presently 24.04%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays cut their target price on shares of ZIM Integrated Shipping Services from $63.00 to $26.50 and set an “equal weight” rating for the company in a report on Friday, November 18th. Jefferies Financial Group cut their target price on shares of ZIM Integrated Shipping Services from $27.00 to $21.00 and set a “hold” rating for the company in a report on Tuesday, December 13th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $34.16.

ZIM Integrated Shipping Services Company Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for ZIM Integrated Shipping Services (NYSE:ZIM)

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