Nuveen LLC Takes Position in ZIM Integrated Shipping Services Ltd. $ZIM

Key Points

• Nuveen LLC purchased 844,560 shares of ZIM Integrated Shipping Services Ltd., valued at approximately $12.3 million, which increased its ownership stake to 0.70% as of the end of the most recent reporting period.
• ZIM Integrated Shipping Services reported a disappointing quarterly earnings per share (EPS) of $0.19, missing analysts' expectations of $1.50, alongside a revenue of $1.64 billion for the quarter.
• The company recently cut its dividend to $0.06 per share, representing an annualized yield of 1.6% amidst a challenging market environment.

Nuveen LLC acquired a new stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 844,560 shares of the company's stock, valued at approximately $12,322,000. Nuveen LLC owned about 0.70% of ZIM Integrated Shipping Services at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC increased its holdings in ZIM Integrated Shipping Services by 4.9% in the fourth quarter. Lazard Asset Management LLC now owns 15,443 shares of the company's stock valued at $331,000 after purchasing an additional 722 shares during the period. Aigen Investment Management LP increased its position in ZIM Integrated Shipping Services by 5.4% in the 1st quarter. Aigen Investment Management LP now owns 16,842 shares of the company's stock valued at $246,000 after buying an additional 867 shares in the last quarter. Regatta Capital Group LLC grew its stake in ZIM Integrated Shipping Services by 7.6% in the first quarter. Regatta Capital Group LLC now owns 14,699 shares of the company's stock valued at $214,000 after acquiring an additional 1,040 shares during the period. New York State Common Retirement Fund acquired a new position in ZIM Integrated Shipping Services during the 1st quarter valued at about $30,000. Finally, Employees Retirement System of Texas bought a new position in shares of ZIM Integrated Shipping Services during the fourth quarter valued at about $45,000. 21.42% of the stock is currently owned by institutional investors.

ZIM Integrated Shipping Services Stock Performance

ZIM traded down $0.23 during midday trading on Monday, hitting $14.14. 5,631,973 shares of the company were exchanged, compared to its average volume of 6,272,046. The company's 50 day simple moving average is $16.14 and its 200 day simple moving average is $16.65. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 0.85, a price-to-earnings-growth ratio of 0.19 and a beta of 1.75. ZIM Integrated Shipping Services Ltd. has a 1-year low of $11.03 and a 1-year high of $30.15. The company has a current ratio of 1.20, a quick ratio of 1.11 and a debt-to-equity ratio of 1.20.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last posted its earnings results on Wednesday, August 20th. The company reported $0.19 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 business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.84 billion. As a group, sell-side analysts predict that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, September 2nd will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.7%. ZIM Integrated Shipping Services's payout ratio is 5.59%.

Analyst Upgrades and Downgrades

ZIM has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of ZIM Integrated Shipping Services from a "hold" rating to a "sell" rating in a report on Friday. JPMorgan Chase & Co. boosted their price objective on ZIM Integrated Shipping Services from $9.50 to $9.80 and gave the company an "underweight" rating in a research note on Friday. Citigroup reiterated a "sell" rating on shares of ZIM Integrated Shipping Services in a research report on Monday, August 11th. Barclays boosted their price target on shares of ZIM Integrated Shipping Services from $14.20 to $14.80 and gave the company an "underweight" rating in a research report on Friday, June 27th. Finally, Clarkson Capital lowered ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 price objective on the stock. in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Strong Sell" and an average target price of $14.88.

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.