ZIM Integrated Shipping Services (NYSE:ZIM) Trading Down 9.9% Following Analyst Downgrade

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares were down 9.9% during trading on Friday after Barclays lowered their price target on the stock from $16.50 to $16.00. Barclays currently has an underweight rating on the stock. ZIM Integrated Shipping Services traded as low as $18.54 and last traded at $18.67. Approximately 2,248,043 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 4,416,956 shares. The stock had previously closed at $20.72.

A number of other equities research analysts have also issued reports on the company. Fearnley Fonds cut shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group decreased 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 report on Tuesday, December 17th. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ZIM Integrated Shipping Services has an average rating of “Hold” and a consensus price target of $15.04.

Institutional Trading of ZIM Integrated Shipping Services

Institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers boosted its holdings in ZIM Integrated Shipping Services by 39.3% during the second quarter. Rhumbline Advisers now owns 11,732 shares of the company’s stock worth $260,000 after buying an additional 3,311 shares in the last quarter. American Century Companies Inc. raised its position in shares of 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 worth $39,000,000 after acquiring an additional 127,229 shares during the period. Renaissance Technologies LLC boosted its stake in shares of ZIM Integrated Shipping Services by 479.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock worth $58,429,000 after acquiring an additional 2,181,000 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of ZIM Integrated Shipping Services by 73.1% during the 2nd quarter. Hsbc Holdings PLC now owns 50,860 shares of the company’s stock valued at $1,116,000 after acquiring an additional 21,474 shares during the period. Finally, Seven Eight Capital LP purchased a new position in shares of ZIM Integrated Shipping Services in the 2nd quarter valued at about $1,617,000. 21.42% of the stock is currently owned by institutional investors and hedge funds.

ZIM Integrated Shipping Services Stock Down 7.4 %

The firm has a market cap of $2.31 billion, a PE ratio of 1.61, a PEG ratio of 0.04 and a beta of 1.77. The business’s 50 day moving average price is $21.98 and its 200 day moving average price is $20.78. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26.

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 issued a dividend of $2.81 per share. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 annualized dividend and a dividend yield of 58.57%. The ex-dividend date was Monday, December 2nd. ZIM Integrated Shipping Services’s payout ratio is currently 9.72%.

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.