ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down to $19.18

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped down prior to trading on Tuesday . The stock had previously closed at $19.18, but opened at $17.33. ZIM Integrated Shipping Services shares last traded at $18.20, with a volume of 4,094,718 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. 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. Jefferies Financial Group reiterated a “buy” rating and issued a $20.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday. Finally, Bank of America decreased their price objective on shares of 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. 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 a consensus rating of “Hold” and a consensus price target of $10.51.

ZIM Integrated Shipping Services Price Performance

The company has a current ratio of 1.02, a quick ratio of 0.95 and a debt-to-equity ratio of 1.35. The stock’s fifty day simple moving average is $12.49 and its 200-day simple moving average is $11.32.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($1.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.33) by $0.10. ZIM Integrated Shipping Services had a negative net margin of 47.59% and a negative return on equity of 13.96%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.23 billion. As a group, equities analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 1.37 EPS for the current fiscal year.

ZIM Integrated Shipping Services Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, June 4th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Tuesday, June 4th.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. lifted its stake in shares of ZIM Integrated Shipping Services by 12.4% in the third quarter. American Century Companies Inc. now owns 898,491 shares of the company’s stock valued at $9,389,000 after buying an additional 99,477 shares during the period. International Assets Investment Management LLC lifted its stake in shares of ZIM Integrated Shipping Services by 1,204.6% in the fourth quarter. International Assets Investment Management LLC now owns 173,712 shares of the company’s stock valued at $17,600,000 after buying an additional 160,397 shares during the period. Citigroup Inc. lifted its stake in shares of ZIM Integrated Shipping Services by 77.1% in the third quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock valued at $56,000 after buying an additional 2,352 shares during the period. Global Retirement Partners LLC lifted its stake in shares of ZIM Integrated Shipping Services by 17.3% in the fourth quarter. Global Retirement Partners LLC now owns 45,493 shares of the company’s stock valued at $449,000 after buying an additional 6,712 shares during the period. Finally, Blue Trust Inc. raised its position in ZIM Integrated Shipping Services by 604.3% in the fourth quarter. Blue Trust Inc. now owns 4,296 shares of the company’s stock worth $45,000 after purchasing an additional 3,686 shares in the last quarter. 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.