ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down – Here’s What Happened

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $13.49, but opened at $12.20. ZIM Integrated Shipping Services shares last traded at $12.36, with a volume of 2,371,485 shares traded.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating on the stock in a research report on Friday, March 7th. Barclays decreased 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 research note on Monday, March 17th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $18.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday, March 12th. Five 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.54.

ZIM Integrated Shipping Services Trading Down 7.3 %

The firm’s 50 day moving average is $18.45 and its 200 day moving average is $20.39. 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 capitalization of $1.51 billion, a PE ratio of 1.05, a P/E/G ratio of 0.27 and a beta of 1.84.

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

ZIM Integrated Shipping Services Increases Dividend

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

Institutional Trading of ZIM Integrated Shipping Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in shares of 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 buying an additional 674,723 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of ZIM Integrated Shipping Services in the 3rd quarter valued at approximately $2,612,000. Raymond James Financial Inc. bought a new stake in shares of ZIM Integrated Shipping Services during the fourth quarter valued at approximately $1,771,000. Decker Retirement Planning Inc. bought a new position in ZIM Integrated Shipping Services in the fourth quarter worth $5,509,000. Finally, Truist Financial Corp raised its holdings in ZIM Integrated Shipping Services by 10.2% in the fourth quarter. Truist Financial Corp now owns 14,804 shares of the company’s stock worth $318,000 after purchasing an additional 1,376 shares in the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

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.