Nuveen LLC Makes New Investment 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 bought a new position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 844,560 shares of the company's stock, valued at approximately $12,322,000. Nuveen LLC owned 0.70% of ZIM Integrated Shipping Services at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ZIM. New York State Common Retirement Fund acquired a new stake in ZIM Integrated Shipping Services in the first quarter worth $30,000. Employees Retirement System of Texas acquired a new stake in ZIM Integrated Shipping Services in the fourth quarter worth $45,000. Miracle Mile Advisors LLC acquired a new position in shares of ZIM Integrated Shipping Services during the first quarter valued at $146,000. TD Asset Management Inc acquired a new position in shares of ZIM Integrated Shipping Services during the first quarter valued at $155,000. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of ZIM Integrated Shipping Services during the first quarter valued at $161,000. 21.42% of the stock is owned by institutional investors and hedge funds.

ZIM Integrated Shipping Services Price Performance

ZIM stock traded down $0.22 during trading hours on Wednesday, hitting $14.26. 3,324,970 shares of the stock traded hands, compared to its average volume of 6,404,155. 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 Ltd. has a one year low of $11.03 and a one year high of $30.15. The company has a market cap of $1.72 billion, a P/E ratio of 0.86, a P/E/G ratio of 0.17 and a beta of 1.75. The stock has a 50-day simple moving average of $15.94 and a 200 day simple moving average of $16.59.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The company reported $0.19 earnings per share 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 analyst estimates of $1.84 billion. Equities analysts forecast that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors 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 dividend yield of 1.7%. ZIM Integrated Shipping Services's dividend payout ratio (DPR) is 5.59%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ZIM shares. Jefferies Financial Group reissued a "hold" rating and set a $17.00 price target on shares of ZIM Integrated Shipping Services in a report on Wednesday, August 20th. Barclays raised their price target on ZIM Integrated Shipping Services from $14.20 to $14.80 and gave the company an "underweight" rating in a report on Friday, June 27th. JPMorgan Chase & Co. raised their price target on ZIM Integrated Shipping Services from $9.50 to $9.80 and gave the company an "underweight" rating in a report on Friday, August 22nd. Wall Street Zen lowered ZIM Integrated Shipping Services from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Finally, Clarkson Capital lowered ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 price target on the stock. in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, ZIM Integrated Shipping Services has a consensus rating of "Strong Sell" and a consensus price target of $14.88.

ZIM Integrated Shipping Services 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.