ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down – Should You Sell?

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped down prior to trading on Wednesday . The stock had previously closed at $24.81, but opened at $22.67. ZIM Integrated Shipping Services shares last traded at $22.65, with a volume of 1,413,649 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on ZIM shares. JPMorgan Chase & Co. reissued an “underweight” rating and set a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Jefferies Financial Group downgraded shares of ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research report on Wednesday, October 2nd. Bank of America lifted their price objective on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Finally, Barclays raised their price target on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $15.22.

ZIM Integrated Shipping Services Price Performance

The stock’s 50-day moving average is $20.83 and its 200 day moving average is $19.43. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.04. The stock has a market capitalization of $2.89 billion, a PE ratio of -1.48, a P/E/G ratio of 0.04 and a beta of 1.88.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Monday, August 19th. The company reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $1.01. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the firm earned ($1.37) earnings per share. As a group, equities analysts expect that ZIM Integrated Shipping Services Ltd. will post 12.11 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were paid a $0.93 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $3.72 dividend on an annualized basis and a yield of 15.46%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. ZIM Integrated Shipping Services’s payout ratio is currently -1.41%.

Institutional Trading of ZIM Integrated Shipping Services

A number of large investors have recently bought and sold shares of the business. Fairman Group LLC acquired a new stake in ZIM Integrated Shipping Services during the 3rd quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of ZIM Integrated Shipping Services during the third quarter worth $31,000. Northwestern Mutual Wealth Management Co. grew its position in ZIM Integrated Shipping Services by 2,341.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock valued at $43,000 after buying an additional 1,850 shares during the last quarter. American Capital Advisory LLC acquired a new position in ZIM Integrated Shipping Services in the 3rd quarter valued at $69,000. Finally, Farther Finance Advisors LLC raised its position in ZIM Integrated Shipping Services by 467.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,974 shares of the company’s stock worth $76,000 after buying an additional 2,450 shares during the last quarter. Institutional investors and hedge funds 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.