ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Receives $10.51 Consensus Target Price from Brokerages

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) have received a consensus rating of “Reduce” from the four research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $10.51.

ZIM has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating for the company in a report on Friday, March 22nd. Bank of America cut their price objective on ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating for the company in a report on Tuesday, March 19th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $20.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday, March 13th.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several hedge funds have recently added to or reduced their stakes in ZIM. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of ZIM Integrated Shipping Services during the first quarter worth $1,851,000. Bank of New York Mellon Corp acquired a new stake in shares of ZIM Integrated Shipping Services during the first quarter worth $13,790,000. American Century Companies Inc. acquired a new stake in shares of ZIM Integrated Shipping Services during the first quarter worth $527,000. Cetera Advisor Networks LLC acquired a new stake in shares of ZIM Integrated Shipping Services during the first quarter worth $244,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of ZIM Integrated Shipping Services by 1,625.0% during the first quarter. PNC Financial Services Group Inc. now owns 6,900 shares of the company’s stock worth $502,000 after buying an additional 6,500 shares in the last quarter. Institutional investors and hedge funds own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Trading Up 1.4 %

NYSE:ZIM opened at $10.25 on Friday. ZIM Integrated Shipping Services has a twelve month low of $6.39 and a twelve month high of $21.89. The company has a quick ratio of 0.95, a current ratio of 1.02 and a debt-to-equity ratio of 1.35. The business has a 50 day moving average price of $11.12 and a two-hundred day moving average price of $10.30. The company has a market cap of $1.23 billion, a P/E ratio of -0.46 and a beta of 1.84.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($1.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.33) by $0.10. ZIM Integrated Shipping Services had a negative return on equity of 16.29% and a negative net margin of 52.22%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. As a group, analysts expect that ZIM Integrated Shipping Services will post 0.33 EPS for the current fiscal year.

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.