ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down to $23.80

ZIM Integrated Shipping Services Ltd. (NYSE:ZIMGet Free Report)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $23.80, but opened at $21.65. ZIM Integrated Shipping Services shares last traded at $20.54, with a volume of 4,287,031 shares changing hands.

Analyst Upgrades and Downgrades

ZIM has been the topic of several analyst reports. Barclays boosted their price target on shares of ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the company an “underweight” rating in a report on Tuesday, May 28th. JPMorgan Chase & Co. lowered their target price on shares of ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Citigroup lowered shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and upped their target price for the stock from $11.60 to $13.00 in a report on Thursday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $20.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday, May 22nd. Finally, Bank of America lowered their target price on shares of ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating on the stock in a report on Tuesday, March 19th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, ZIM Integrated Shipping Services presently has an average rating of “Hold” and a consensus price target of $12.01.

View Our Latest Stock Analysis on ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Stock Performance

The business’s fifty day simple moving average is $15.25 and its 200 day simple moving average is $12.44. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 1.49.

ZIM Integrated Shipping Services (NYSE:ZIMGet Free Report) last issued its quarterly earnings data on Wednesday, March 13th. The company reported ($1.23) EPS for the quarter, topping analysts’ consensus estimates of ($1.33) by $0.10. ZIM Integrated Shipping Services had a negative net margin of 47.59% and a negative return on equity of 14.80%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. Analysts expect that ZIM Integrated Shipping Services Ltd. will post 1.88 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, June 4th. This represents a $0.92 dividend on an annualized basis and a yield of 4.71%. ZIM Integrated Shipping Services’s payout ratio is presently -4.35%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its position in ZIM Integrated Shipping Services by 92.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,335 shares of the company’s stock valued at $33,000 after purchasing an additional 1,601 shares during the period. Blue Trust Inc. lifted its position in ZIM Integrated Shipping Services by 604.3% during the 4th quarter. Blue Trust Inc. now owns 4,296 shares of the company’s stock valued at $45,000 after purchasing an additional 3,686 shares during the period. Citigroup Inc. lifted its position in ZIM Integrated Shipping Services by 77.1% during the 3rd quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock valued at $56,000 after purchasing an additional 2,352 shares during the period. Scarborough Advisors LLC acquired a new position in ZIM Integrated Shipping Services during the 4th quarter valued at about $58,000. Finally, Russell Investments Group Ltd. raised its position in shares of ZIM Integrated Shipping Services by 1,431.1% in the 1st quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock valued at $61,000 after acquiring an additional 5,667 shares during the period. 21.42% of the stock is currently owned by institutional investors and hedge funds.

About ZIM Integrated Shipping Services

(Get Free Report)

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.

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