ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Given Average Recommendation of “Reduce” by Brokerages

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) have earned a consensus recommendation of “Reduce” from the seven analysts that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $15.14.

Several brokerages have recently weighed in on ZIM. Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Bank of America increased 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 report on Wednesday, August 28th. Jefferies Financial Group cut their price target on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday. Barclays raised their price target 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, JPMorgan Chase & Co. restated an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th.

Institutional Trading of ZIM Integrated Shipping Services

Several large investors have recently bought and sold shares of the company. Renaissance Technologies LLC grew its position in ZIM Integrated Shipping Services by 479.9% in the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock valued at $58,429,000 after acquiring an additional 2,181,000 shares in the last quarter. Marshall Wace LLP grew its position in ZIM Integrated Shipping Services by 638.6% in the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock valued at $53,148,000 after acquiring an additional 2,072,715 shares in the last quarter. American Century Companies Inc. grew its position in ZIM Integrated Shipping Services by 7.8% in the second quarter. American Century Companies Inc. now owns 1,759,141 shares of the company’s stock valued at $39,000,000 after acquiring an additional 127,229 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in ZIM Integrated Shipping Services by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 860,456 shares of the company’s stock valued at $22,079,000 after acquiring an additional 36,692 shares in the last quarter. Finally, Encompass Capital Advisors LLC acquired a new stake in ZIM Integrated Shipping Services in the second quarter valued at approximately $14,383,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Trading Down 5.7 %

Shares of ZIM stock opened at $18.41 on Wednesday. The firm has a market cap of $2.22 billion, a P/E ratio of 1.54, a PEG ratio of 0.04 and a beta of 1.78. ZIM Integrated Shipping Services has a 1-year low of $9.08 and a 1-year high of $30.15. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26. The firm’s 50-day simple moving average is $22.38 and its 200-day simple moving average is $20.66.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were given a $2.81 dividend. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, December 2nd. This represents a $11.24 annualized dividend and a yield of 61.07%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is 9.72%.

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.