Causeway Capital Management LLC Purchases 91,022 Shares of ZIM Integrated Shipping Services Ltd. $ZIM

Key Points

• Causeway Capital Management LLC increased its stake in ZIM Integrated Shipping Services by 15.5%, acquiring an additional 91,022 shares, bringing its total ownership to approximately 678,540 shares valued at $9.9 million.
• ZIM reported earnings per share of $0.19 for the last quarter, significantly below analysts' expectations of $1.50, and generated $1.64 billion in revenue, also missing forecasts.
• The company has announced a quarterly dividend of $0.06 per share, reflecting a $0.24 annualized dividend and a yield of 1.7% amid a strategic cut in dividends.

Causeway Capital Management LLC raised its holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 15.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 678,540 shares of the company's stock after acquiring an additional 91,022 shares during the period. Causeway Capital Management LLC owned about 0.56% of ZIM Integrated Shipping Services worth $9,900,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

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

ZIM Integrated Shipping Services Price Performance

ZIM Integrated Shipping Services stock opened at $14.14 on Tuesday. 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 Ltd. has a 52 week low of $11.03 and a 52 week high of $30.15. The stock has a market capitalization of $1.70 billion, a P/E ratio of 0.85, a price-to-earnings-growth ratio of 0.19 and a beta of 1.75. The stock has a fifty day moving average of $16.07 and a 200-day moving average of $16.62.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its 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). The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.84 billion. ZIM Integrated Shipping Services had a net margin of 23.37% and a return on equity of 50.61%. On average, sell-side 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 business 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 annualized dividend and a dividend yield of 1.7%. ZIM Integrated Shipping Services's dividend payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.