ZIM Integrated Shipping Services (NYSE:ZIM) Shares Down 4.6% – Should You Sell?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price traded down 4.6% during mid-day trading on Monday . The stock traded as low as $22.32 and last traded at $22.69. 1,315,558 shares were traded during trading, a decline of 79% from the average session volume of 6,125,721 shares. The stock had previously closed at $23.78.

Analyst Ratings Changes

Several analysts have issued reports on ZIM shares. Bank of America upped their price target on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a report on Wednesday, August 28th. 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 research note on Monday. Jefferies Financial Group reissued a “hold” rating and set a $25.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday, November 20th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Finally, Fearnley Fonds lowered ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday. Five analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $15.74.

ZIM Integrated Shipping Services Stock Performance

The stock’s fifty day simple moving average is $22.78 and its two-hundred day simple moving average is $20.56. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 1.82, a price-to-earnings-growth ratio of 0.05 and a beta of 1.88. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be paid a dividend of $2.81 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 annualized dividend and a yield of 50.95%. The ex-dividend date is Monday, December 2nd. ZIM Integrated Shipping Services’s payout ratio is currently 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fairman Group LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the third quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in ZIM Integrated Shipping Services during the 3rd quarter valued at $31,000. Northwestern Mutual Wealth Management Co. lifted its holdings in ZIM Integrated Shipping Services by 2,341.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock worth $43,000 after buying an additional 1,850 shares in the last quarter. American Capital Advisory LLC purchased a new position in ZIM Integrated Shipping Services in the 3rd quarter valued at about $69,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of ZIM Integrated Shipping Services during the third quarter valued at about $71,000. Institutional investors and hedge funds 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.