Barclays Issues Pessimistic Forecast for ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price

Key Points

• Barclays has downgraded the price target for ZIM Integrated Shipping Services from $14.80 to $13.30, reflecting a pessimistic outlook and an "underweight" rating on the stock.
• Institutional investors are showing mixed interest in ZIM, with various funds acquiring new positions, while the company has a Strong Sell average rating and a target price of $14.58.
• ZIM missed earnings expectations for the last quarter, reporting earnings per share of $0.19 when analysts expected $1.50, and generated revenue of $1.64 billion against a forecast of $1.84 billion.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) had its price objective cut by equities research analysts at Barclays from $14.80 to $13.30 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Barclays's price objective would indicate a potential downside of 3.52% from the stock's previous close.

A number of other analysts also recently issued reports on ZIM. Citigroup reissued a "sell" rating on shares of ZIM Integrated Shipping Services in a report on Monday, August 11th. Jefferies Financial Group reaffirmed a "hold" rating and set a $17.00 price target on shares of ZIM Integrated Shipping Services in a report on Wednesday, August 20th. Wall Street Zen downgraded shares of ZIM Integrated Shipping Services from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Clarkson Capital downgraded 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 report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. upped their price target on shares of ZIM Integrated Shipping Services from $9.50 to $9.80 and gave the stock an "underweight" rating in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Strong Sell" and an average target price of $14.58.

ZIM Integrated Shipping Services Stock Performance

NYSE ZIM traded down $0.43 during trading on Thursday, reaching $13.79. The company's stock had a trading volume of 2,355,152 shares, compared to its average volume of 6,225,547. The company has a current ratio of 1.20, a quick ratio of 1.11 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 0.83, a price-to-earnings-growth ratio of 0.17 and a beta of 1.75. ZIM Integrated Shipping Services has a 12 month low of $11.03 and a 12 month high of $30.15. The firm has a 50 day moving average price of $15.94 and a 200 day moving average price of $16.59.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.84 billion. ZIM Integrated Shipping Services had a net margin of 23.37% and a return on equity of 50.61%. As a group, equities analysts anticipate that ZIM Integrated Shipping Services will post 16.75 EPS for the current fiscal year.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new position in ZIM Integrated Shipping Services in the 2nd quarter valued at approximately $26,000. New York State Common Retirement Fund acquired a new position in ZIM Integrated Shipping Services in the 1st quarter valued at approximately $30,000. Edmond DE Rothschild Holding S.A. acquired a new position in ZIM Integrated Shipping Services in the 2nd quarter valued at approximately $37,000. Employees Retirement System of Texas acquired a new position in ZIM Integrated Shipping Services in the 4th quarter valued at approximately $45,000. Finally, Allworth Financial LP increased its position in ZIM Integrated Shipping Services by 230.6% in the 2nd quarter. Allworth Financial LP now owns 3,637 shares of the company's stock valued at $59,000 after acquiring an additional 2,537 shares during the period. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.

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