ZIM Integrated Shipping Services (NYSE:ZIM) Trading Down 17.1% – Here’s Why

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) dropped 17.1% during trading on Thursday . The company traded as low as $13.37 and last traded at $13.37. Approximately 8,080,768 shares changed hands during mid-day trading, an increase of 37% from the average daily volume of 5,891,990 shares. The stock had previously closed at $16.13.

Analysts Set New Price Targets

Several research firms have recently issued reports on ZIM. Jefferies Financial Group reaffirmed a “hold” rating and issued a $18.00 price target on shares of ZIM Integrated Shipping Services in a research report on Wednesday, March 12th. Barclays cut their price target on shares of ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating on the stock in a report on Monday, March 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a report on Friday, March 7th. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $13.54.

ZIM Integrated Shipping Services Trading Down 7.3 %

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 company has a market cap of $1.51 billion, a P/E ratio of 1.05, a P/E/G ratio of 0.27 and a beta of 1.84. The stock’s 50-day moving average is $18.45 and its two-hundred day moving average is $20.39.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings data on Wednesday, March 12th. The company reported $4.66 EPS for the quarter, topping the consensus estimate of $3.47 by $1.19. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $1.99 billion. As a group, equities research analysts predict that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th were given a dividend of $3.17 per share. The ex-dividend date was Monday, March 24th. This represents a $12.68 annualized dividend and a dividend yield of 101.36%. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. ZIM Integrated Shipping Services’s dividend payout ratio is presently 6.51%.

Institutional Trading of ZIM Integrated Shipping Services

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its stake in shares of ZIM Integrated Shipping Services by 50.0% during the 4th quarter. Renaissance Technologies LLC now owns 5,726,631 shares of the company’s stock worth $122,951,000 after acquiring an additional 1,909,480 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in ZIM Integrated Shipping Services by 33.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,784,352 shares of the company’s stock worth $81,250,000 after purchasing an additional 940,587 shares during the period. Marshall Wace LLP lifted its position in ZIM Integrated Shipping Services by 6.9% during the fourth quarter. Marshall Wace LLP now owns 1,936,666 shares of the company’s stock valued at $41,580,000 after purchasing an additional 124,558 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in ZIM Integrated Shipping Services by 59.4% during the third quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock valued at $46,482,000 after purchasing an additional 674,723 shares during the period. Finally, Allianz Asset Management GmbH increased its position in ZIM Integrated Shipping Services by 39.5% in the fourth quarter. Allianz Asset Management GmbH now owns 1,389,034 shares of the company’s stock worth $29,823,000 after buying an additional 393,215 shares in the last quarter. 21.42% of the stock is currently owned by institutional investors.

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.