Janney Montgomery Scott LLC Cuts Stock Holdings in ZIM Integrated Shipping Services Ltd. $ZIM

Janney Montgomery Scott LLC lowered its position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 80.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,295 shares of the company’s stock after selling 43,363 shares during the period. Janney Montgomery Scott LLC’s holdings in ZIM Integrated Shipping Services were worth $166,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ZIM. New York State Common Retirement Fund acquired a new position in shares of ZIM Integrated Shipping Services during the first quarter worth $30,000. TD Asset Management Inc acquired a new position in shares of ZIM Integrated Shipping Services during the first quarter worth $155,000. Vontobel Holding Ltd. acquired a new position in shares of ZIM Integrated Shipping Services during the first quarter worth $161,000. U.S. Capital Wealth Advisors LLC acquired a new position in shares of ZIM Integrated Shipping Services during the second quarter worth $161,000. Finally, Baron Wealth Management LLC acquired a new position in shares of ZIM Integrated Shipping Services during the second quarter worth $192,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Price Performance

Shares of ZIM opened at $13.64 on Wednesday. ZIM Integrated Shipping Services Ltd. has a fifty-two week low of $11.03 and a fifty-two week high of $30.15. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 0.82 and a beta of 1.72. The firm has a 50-day simple moving average of $14.11 and a 200-day simple moving average of $15.25. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.11 and a current ratio of 1.20.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its earnings results on Wednesday, August 20th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($1.31). ZIM Integrated Shipping Services had a net margin of 23.37% and a return on equity of 50.61%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.84 billion. On average, equities research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, September 2nd. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is 1.44%.

Wall Street Analysts Forecast Growth

ZIM has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of ZIM Integrated Shipping Services in a research note on Wednesday, October 8th. Jefferies Financial Group restated a “hold” rating and issued a $17.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday, August 20th. JPMorgan Chase & Co. upped their price objective on shares of ZIM Integrated Shipping Services from $9.80 to $10.00 and gave the company an “underweight” rating in a research note on Tuesday, September 30th. Citigroup restated a “sell” rating on shares of ZIM Integrated Shipping Services in a research note on Monday, August 11th. Finally, Wall Street Zen downgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Three research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, ZIM Integrated Shipping Services currently has a consensus rating of “Strong Sell” and a consensus price target of $14.62.

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.