ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Down 3.3% – Should You Sell?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price fell 3.3% during trading on Friday . The stock traded as low as $22.47 and last traded at $22.54. 1,123,297 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 3,709,441 shares. The stock had previously closed at $23.31.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Jefferies Financial Group dropped their target price on ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating for the company in a research note on Tuesday, December 17th. Barclays lifted their target price on shares of ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an “underweight” rating in a report on Monday, November 25th. Finally, Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. Five research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.14.

ZIM Integrated Shipping Services Trading Down 2.0 %

The business has a 50 day moving average of $22.21 and a two-hundred day moving average of $20.72. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The firm has a market cap of $2.75 billion, a P/E ratio of 1.91, a PEG ratio of 0.04 and a beta of 1.78.

ZIM Integrated Shipping Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were given a dividend of $2.81 per share. This represents a $11.24 dividend on an annualized basis and a dividend yield of 49.21%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, December 2nd. ZIM Integrated Shipping Services’s dividend payout ratio is presently 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in shares of ZIM Integrated Shipping Services by 59.4% in the third quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock worth $46,482,000 after purchasing an additional 674,723 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of ZIM Integrated Shipping Services in the third quarter valued at approximately $893,000. Sunbelt Securities Inc. purchased a new stake in shares of ZIM Integrated Shipping Services during the 3rd quarter valued at approximately $71,000. Geode Capital Management LLC boosted its holdings in ZIM Integrated Shipping Services by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 88,086 shares of the company’s stock worth $2,260,000 after buying an additional 2,873 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in ZIM Integrated Shipping Services during the 3rd quarter valued at $3,364,000. Institutional investors own 21.42% of the company’s stock.

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.