Cetera Advisors LLC Makes New Investment in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Cetera Advisors LLC purchased a new position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,822 shares of the company’s stock, valued at approximately $130,000.

A number of other hedge funds have also recently added to or reduced their stakes in ZIM. Charles Schwab Investment Management Inc. boosted its stake in ZIM Integrated Shipping Services by 82.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 512,103 shares of the company’s stock worth $5,054,000 after buying an additional 231,955 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in ZIM Integrated Shipping Services by 1,446.0% in the 4th quarter. Allianz Asset Management GmbH now owns 161,552 shares of the company’s stock worth $1,595,000 after buying an additional 151,102 shares during the last quarter. Entropy Technologies LP acquired a new stake in ZIM Integrated Shipping Services in the 1st quarter worth about $854,000. Axxcess Wealth Management LLC acquired a new stake in ZIM Integrated Shipping Services in the 1st quarter worth about $546,000. Finally, Seven Eight Capital LP boosted its stake in ZIM Integrated Shipping Services by 166.1% in the 4th quarter. Seven Eight Capital LP now owns 83,745 shares of the company’s stock worth $827,000 after buying an additional 52,270 shares during the last quarter. 21.42% of the stock is owned by institutional investors and hedge funds.

ZIM Integrated Shipping Services Stock Performance

ZIM Integrated Shipping Services stock opened at $19.06 on Monday. The stock’s 50 day moving average price is $19.28 and its 200 day moving average price is $15.53. The firm has a market capitalization of $2.29 billion, a PE ratio of -0.90, a price-to-earnings-growth ratio of 0.09 and a beta of 1.85. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.90 and a current ratio of 0.98. ZIM Integrated Shipping Services Ltd. has a one year low of $6.39 and a one year high of $23.82.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Tuesday, May 21st. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.34). The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.53 billion. ZIM Integrated Shipping Services had a negative return on equity of 14.80% and a negative net margin of 47.59%. As a group, sell-side analysts expect that ZIM Integrated Shipping Services Ltd. will post 6.26 EPS for the current fiscal year.

ZIM Integrated Shipping Services Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, June 4th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 4.83%. The ex-dividend date was Tuesday, June 4th. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently -4.35%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Jefferies Financial Group reissued a “buy” rating and issued a $20.00 price target on shares of ZIM Integrated Shipping Services in a research note on Wednesday, May 22nd. Barclays lifted their price objective on ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the company an “underweight” rating in a research note on Tuesday, May 28th. Finally, Citigroup lowered ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and lifted their price objective for the company from $11.60 to $13.00 in a research note on Thursday, June 6th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, ZIM Integrated Shipping Services currently has an average rating of “Hold” and an average target price of $12.01.

ZIM Integrated Shipping Services Company Profile

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.