ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Receives Average Recommendation of “Strong Sell” from Brokerages

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) have received a consensus rating of “Strong Sell” from the six ratings firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $14.70.

A number of analysts recently commented on ZIM shares. JPMorgan Chase & Co. reduced their price objective on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a research report on Friday, March 7th. Clarkson Capital lowered shares of ZIM Integrated Shipping Services from a “buy” rating to a “neutral” rating and set a $20.00 price target for the company. in a research report on Tuesday, May 20th. Bank of America dropped their price objective on shares of ZIM Integrated Shipping Services from $16.00 to $12.80 and set an “underperform” rating on the stock in a report on Friday, April 11th. Jefferies Financial Group upped their target price on shares of ZIM Integrated Shipping Services from $16.00 to $17.00 and gave the company a “hold” rating in a report on Tuesday, May 20th. Finally, Barclays lifted their price target on shares of ZIM Integrated Shipping Services from $12.00 to $14.20 and gave the stock an “underweight” rating in a research note on Wednesday, May 28th.

Institutional Trading of ZIM Integrated Shipping Services

Institutional investors and hedge funds have recently modified their holdings of the company. Bayforest Capital Ltd boosted its holdings in ZIM Integrated Shipping Services by 134.1% in the 1st quarter. Bayforest Capital Ltd now owns 15,011 shares of the company’s stock worth $219,000 after buying an additional 8,599 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of ZIM Integrated Shipping Services by 20.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock worth $68,879,000 after acquiring an additional 788,514 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the first quarter worth about $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in ZIM Integrated Shipping Services during the 1st quarter valued at approximately $8,112,000. Finally, Royal Bank of Canada lifted its holdings in ZIM Integrated Shipping Services by 8.2% in the 1st quarter. Royal Bank of Canada now owns 40,827 shares of the company’s stock worth $596,000 after purchasing an additional 3,102 shares in the last quarter. 21.42% of the stock is currently owned by institutional investors.

ZIM Integrated Shipping Services Stock Down 2.0%

ZIM opened at $17.03 on Wednesday. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 1.43, a PEG ratio of 0.27 and a beta of 1.83. The firm has a 50 day moving average price of $15.44 and a 200-day moving average price of $17.89. ZIM Integrated Shipping Services has a twelve month low of $11.04 and a twelve month high of $30.15. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Monday, May 19th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.56. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.84 billion. ZIM Integrated Shipping Services had a net margin of 19.26% and a return on equity of 48.63%. During the same quarter in the previous year, the firm posted $0.75 EPS. Equities research analysts forecast that ZIM Integrated Shipping Services will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, June 3rd were issued a dividend of $0.74 per share. This represents a yield of 16.96%. The ex-dividend date of this dividend was Monday, June 2nd. ZIM Integrated Shipping Services’s dividend payout ratio is currently 4.76%.

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.