ZIM Integrated Shipping Services (NYSE:ZIM) Trading Down 13.8%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares dropped 13.8% on Monday . The stock traded as low as $18.71 and last traded at $19.06. Approximately 4,867,435 shares were traded during trading, a decline of 24% from the average daily volume of 6,368,346 shares. The stock had previously closed at $22.11.

Wall Street Analyst Weigh In

ZIM has been the subject of several analyst reports. Bank of America reduced their price target on shares of ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating for the company in a research report on Tuesday, March 19th. Barclays raised their price target on shares of ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the company an “underweight” rating in a research report on Tuesday, May 28th. Citigroup cut shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and raised their target price for the stock from $11.60 to $13.00 in a report on Thursday, June 6th. Jefferies Financial Group restated a “buy” rating and issued a $20.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.01.

ZIM Integrated Shipping Services Stock Performance

The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 1.49. The business’s 50 day moving average is $19.37 and its two-hundred day moving average is $14.43. The company has a market cap of $2.39 billion, a PE ratio of -0.92, a PEG ratio of 0.17 and a beta of 1.85.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings results on Tuesday, May 21st. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.34). The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.53 billion. ZIM Integrated Shipping Services had a negative net margin of 47.59% and a negative return on equity of 14.80%. On average, equities research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.42 EPS for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 4th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.92 dividend on an annualized basis and a yield of 4.64%. ZIM Integrated Shipping Services’s dividend payout ratio is currently -4.35%.

Institutional Trading of ZIM Integrated Shipping Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allianz Asset Management GmbH increased its holdings 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 valued at $1,595,000 after acquiring an additional 151,102 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of ZIM Integrated Shipping Services by 12.4% in the 3rd quarter. American Century Companies Inc. now owns 898,491 shares of the company’s stock worth $9,389,000 after buying an additional 99,477 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of ZIM Integrated Shipping Services by 1,204.6% in the 4th quarter. International Assets Investment Management LLC now owns 173,712 shares of the company’s stock worth $17,600,000 after buying an additional 160,397 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of ZIM Integrated Shipping Services in the 4th quarter worth about $127,000. Finally, Citigroup Inc. increased its holdings in shares of ZIM Integrated Shipping Services by 77.1% in the 3rd quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock worth $56,000 after buying an additional 2,352 shares during the last quarter. 21.42% of the stock is currently owned by institutional investors.

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.