Causeway Capital Management LLC Raises Stock Holdings in 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 grew its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 15.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 678,540 shares of the company's stock after buying an additional 91,022 shares during the quarter. Causeway Capital Management LLC owned 0.56% of ZIM Integrated Shipping Services worth $9,900,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Lazard Asset Management LLC boosted its stake in shares of ZIM Integrated Shipping Services by 4.9% in the 4th quarter. Lazard Asset Management LLC now owns 15,443 shares of the company's stock valued at $331,000 after buying an additional 722 shares during the period. Aigen Investment Management LP lifted its stake in ZIM Integrated Shipping Services by 5.4% during the first quarter. Aigen Investment Management LP now owns 16,842 shares of the company's stock worth $246,000 after purchasing an additional 867 shares during the last quarter. Regatta Capital Group LLC lifted its stake in ZIM Integrated Shipping Services by 7.6% during the first quarter. Regatta Capital Group LLC now owns 14,699 shares of the company's stock worth $214,000 after purchasing an additional 1,040 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in ZIM Integrated Shipping Services during the first quarter worth approximately $30,000. Finally, Employees Retirement System of Texas purchased a new stake in ZIM Integrated Shipping Services during the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 21.42% of the company's stock.

ZIM Integrated Shipping Services Stock Performance

Shares of NYSE:ZIM traded down $0.25 during trading on Friday, reaching $13.61. The company had a trading volume of 3,483,546 shares, compared to its average volume of 6,528,025. The stock's fifty day moving average price is $15.80 and its 200 day moving average price is $16.48. ZIM Integrated Shipping Services Ltd. has a fifty-two week low of $11.03 and a fifty-two week high of $30.15. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 0.82, a price-to-earnings-growth ratio of 0.16 and a beta of 1.75. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.20 and a quick ratio of 1.11.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its quarterly earnings data 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 return on equity of 50.61% and a net margin of 23.37%.The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.84 billion. As a group, equities research analysts predict that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS 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 issued a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.24 annualized dividend and a yield of 1.8%. ZIM Integrated Shipping Services's dividend payout ratio is 5.59%.

Analyst Upgrades and Downgrades

ZIM has been the subject of several recent analyst reports. Clarkson Capital cut ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 target price for the company. in a research note on Tuesday, May 20th. Barclays reduced their price objective on ZIM Integrated Shipping Services from $14.80 to $13.30 and set an "underweight" rating for the company in a research note on Thursday. Citigroup reiterated a "sell" rating on shares of ZIM Integrated Shipping Services in a research note on Monday, August 11th. 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, August 22nd. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $17.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday, August 20th. Two investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Strong Sell" and a consensus price target of $14.58.

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.