American Century Companies Inc. Purchases 366,205 Shares of ZIM Integrated Shipping Services Ltd. $ZIM

Key Points

• American Century Companies Inc. has increased its stake in ZIM Integrated Shipping Services Ltd. by 19.1%, now owning 2,280,289 shares valued at approximately $33 million.
• ZIM Integrated Shipping Services recently declared a $0.06 quarterly dividend, resulting in an annualized yield of 1.6% amidst a significant decrease in expected earnings.
• Several analysts have given ZIM a “Strong Sell” rating with a consensus price target of $14.82, highlighting ongoing uncertainty in the company's financial outlook.

American Century Companies Inc. boosted its position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 19.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,280,289 shares of the company's stock after buying an additional 366,205 shares during the quarter. American Century Companies Inc. owned approximately 1.89% of ZIM Integrated Shipping Services worth $33,269,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ZIM. New York State Common Retirement Fund acquired a new position in ZIM Integrated Shipping Services in the 1st quarter valued at $30,000. Employees Retirement System of Texas acquired a new position in ZIM Integrated Shipping Services in the 4th quarter valued at $45,000. Miracle Mile Advisors LLC acquired a new position in ZIM Integrated Shipping Services in the 1st quarter valued at $146,000. TD Asset Management Inc acquired a new position in ZIM Integrated Shipping Services in the 1st quarter valued at $155,000. Finally, SeaCrest Wealth Management LLC acquired a new position in ZIM Integrated Shipping Services in the 1st quarter valued at $161,000. 21.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ZIM shares. Jefferies Financial Group reiterated a "hold" rating and issued a $17.00 target price on shares of ZIM Integrated Shipping Services in a research note on Wednesday, August 20th. Clarkson Capital lowered shares of ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 price target on the stock. in a research report on Tuesday, May 20th. JPMorgan Chase & Co. raised 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 research report on Friday. Citigroup restated a "sell" rating on shares of ZIM Integrated Shipping Services in a research report on Monday, August 11th. Finally, Barclays raised their price target on shares of ZIM Integrated Shipping Services from $14.20 to $14.80 and gave the stock an "underweight" rating in a research report on Friday, June 27th. 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, the stock presently has an average rating of "Strong Sell" and an average target price of $14.88.

ZIM Integrated Shipping Services Price Performance

Shares of NYSE:ZIM traded down $0.23 during midday trading on Monday, reaching $14.14. 5,632,398 shares of the company's stock were exchanged, compared to its average volume of 6,272,080. The company's 50 day simple moving average is $16.14 and its two-hundred day simple moving average is $16.65. The firm has a market capitalization of $1.70 billion, a PE 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 12 month low of $11.03 and a 12 month high of $30.15. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, August 20th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $1.50 by ($1.31). The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.84 billion. ZIM Integrated Shipping Services had a return on equity of 50.61% and a net margin of 23.37%. Equities research analysts expect that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Cuts Dividend

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

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.