ZIM Integrated Shipping Services (NYSE:ZIM) Shares Down 9.9% – Here’s Why

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price fell 9.9% during mid-day trading on Friday . The company traded as low as $18.54 and last traded at $18.67. 2,248,043 shares were traded during mid-day trading, a decline of 49% from the average session volume of 4,416,956 shares. The stock had previously closed at $20.72.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Jefferies Financial Group dropped their price objective 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, December 17th. Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. Barclays boosted their target price 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, Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Five equities 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 company’s stock. According to MarketBeat.com, ZIM Integrated Shipping Services presently has an average rating of “Hold” and a consensus target price of $15.14.

ZIM Integrated Shipping Services Stock Performance

The company’s fifty day simple moving average is $22.09 and its 200 day simple moving average is $20.79. The stock has a market capitalization of $2.31 billion, a P/E ratio of 1.60, a P/E/G ratio of 0.04 and a beta of 1.77. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given a dividend of $2.81 per share. This represents a $11.24 annualized dividend and a yield of 58.66%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, December 2nd. ZIM Integrated Shipping Services’s payout ratio is presently 9.72%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of institutional investors and hedge funds have recently bought and sold shares of ZIM. Renaissance Technologies LLC increased its holdings in shares of ZIM Integrated Shipping Services by 479.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock worth $58,429,000 after buying an additional 2,181,000 shares during the last quarter. Marshall Wace LLP increased its stake 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 during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of ZIM Integrated Shipping Services by 59.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock valued at $46,482,000 after buying an additional 674,723 shares in the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of ZIM Integrated Shipping Services in the 2nd quarter worth approximately $14,383,000. Finally, International Assets Investment Management LLC boosted its position in ZIM Integrated Shipping Services by 2,228.7% during the third quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock valued at $10,337,000 after buying an additional 385,562 shares during the period. 21.42% of the stock is owned by hedge funds and other 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.