ZIM Integrated Shipping Services (NYSE:ZIM) Shares Down 7.4%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price fell 7.4% on Thursday . The stock traded as low as $12.29 and last traded at $12.37. 2,103,981 shares were traded during mid-day trading, a decline of 67% from the average session volume of 6,409,083 shares. The stock had previously closed at $13.36.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ZIM. JPMorgan Chase & Co. lowered 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 lowered 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 reaffirmed a “buy” rating and set a $20.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday, March 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.51.

ZIM Integrated Shipping Services Price Performance

The company has a market capitalization of $1.52 billion, a P/E ratio of -0.56 and a beta of 1.64. The company has a fifty day moving average price of $10.92 and a 200 day moving average price of $10.45. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.02 and a quick ratio of 0.95.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings data on Wednesday, March 13th. The company reported ($1.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.33) by $0.10. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. ZIM Integrated Shipping Services had a negative return on equity of 16.29% and a negative net margin of 52.22%. On average, sell-side analysts forecast that ZIM Integrated Shipping Services Ltd. will post -0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC boosted its position in shares of ZIM Integrated Shipping Services by 10.4% during the first quarter. Global Retirement Partners LLC now owns 50,206 shares of the company’s stock worth $508,000 after buying an additional 4,713 shares during the period. Regatta Capital Group LLC lifted its position in ZIM Integrated Shipping Services by 8.5% in the first quarter. Regatta Capital Group LLC now owns 16,022 shares of the company’s stock worth $162,000 after purchasing an additional 1,254 shares during the period. Counterpoint Mutual Funds LLC lifted its position in ZIM Integrated Shipping Services by 105.9% in the first quarter. Counterpoint Mutual Funds LLC now owns 28,438 shares of the company’s stock worth $288,000 after purchasing an additional 14,627 shares during the period. International Assets Investment Management LLC lifted its position in ZIM Integrated Shipping Services by 29.5% in the first quarter. International Assets Investment Management LLC now owns 22,800 shares of the company’s stock worth $243,000 after purchasing an additional 5,200 shares during the period. Finally, Napatree Capital LLC acquired a new stake in ZIM Integrated Shipping Services in the fourth quarter worth approximately $281,000. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.