ZIM Integrated Shipping Services (NYSE:ZIM) Hits New 12-Month Low Following Weak Earnings

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Rating)’s share price hit a new 52-week low during trading on Monday following a weaker than expected earnings announcement. The company traded as low as $15.90 and last traded at $15.90, with a volume of 842787 shares changing hands. The stock had previously closed at $17.51.

The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.32). The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.56 billion. ZIM Integrated Shipping Services had a return on equity of 50.43% and a net margin of 27.90%. During the same period last year, the business posted $14.19 earnings per share.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Friday, March 24th were issued a dividend of $6.40 per share. This represents a $25.60 annualized dividend and a yield of 179.52%. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.95. The ex-dividend date was Tuesday, April 4th. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently 108.15%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ZIM shares. JPMorgan Chase & Co. lowered shares of ZIM Integrated Shipping Services from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $27.00 to $20.80 in a report on Friday, April 21st. Jefferies Financial Group cut their price objective on shares of ZIM Integrated Shipping Services from $20.00 to $16.00 in a report on Tuesday. TheStreet lowered shares of ZIM Integrated Shipping Services from a “c-” rating to a “d+” rating in a report on Wednesday, April 26th. Finally, Barclays cut their price target on shares of ZIM Integrated Shipping Services from $15.00 to $13.00 in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.96.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several institutional investors and hedge funds have recently bought and sold shares of ZIM. SG Americas Securities LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the fourth quarter valued at $220,000. Delphia USA Inc. grew its holdings in shares of ZIM Integrated Shipping Services by 7.8% during the third quarter. Delphia USA Inc. now owns 23,876 shares of the company’s stock valued at $561,000 after buying an additional 1,726 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of ZIM Integrated Shipping Services by 31.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 23,285 shares of the company’s stock valued at $526,000 after buying an additional 5,632 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in shares of ZIM Integrated Shipping Services during the fourth quarter valued at $1,194,000. Finally, Janney Montgomery Scott LLC grew its holdings in shares of ZIM Integrated Shipping Services by 3.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 30,197 shares of the company’s stock valued at $519,000 after buying an additional 962 shares during the last quarter. 36.74% of the stock is owned by hedge funds and other institutional investors.

ZIM Integrated Shipping Services Stock Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.60 and a quick ratio of 1.53. The company has a market capitalization of $1.71 billion, a PE ratio of 0.60 and a beta of 2.11. The firm’s fifty day simple moving average is $19.58 and its 200 day simple moving average is $20.22.

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.