MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Invests $8.11 Million in ZIM Integrated Shipping Services Ltd. $ZIM

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. invested approximately $8.11 million in ZIM Integrated Shipping Services, acquiring 556,006 shares in the company's stock during the 1st quarter.
• Recent analyst ratings show mixed sentiments, with Clarkson Capital downgrading ZIM from a "buy" to a "neutral" rating and setting a price objective of $20.00, while Barclays lowered its price target to $13.30.
• In its latest quarterly earnings report, ZIM missed the consensus EPS estimate, reporting $0.19 against a forecast of $1.50, and its revenue came in lower than expectations at $1.64 billion.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 556,006 shares of the company's stock, valued at approximately $8,112,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.46% of ZIM Integrated Shipping Services as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. New York State Common Retirement Fund purchased a new stake in ZIM Integrated Shipping Services in the first quarter worth $30,000. Employees Retirement System of Texas purchased a new stake in ZIM Integrated Shipping Services in the fourth quarter worth $45,000. Miracle Mile Advisors LLC purchased a new position in ZIM Integrated Shipping Services during the first quarter valued at $146,000. TD Asset Management Inc purchased a new position in ZIM Integrated Shipping Services during the first quarter valued at $155,000. Finally, SeaCrest Wealth Management LLC purchased a new position in ZIM Integrated Shipping Services during the first quarter valued at $161,000. Institutional investors own 21.42% of the company's stock.

Analyst Ratings Changes

ZIM has been the subject of several recent research reports. Clarkson Capital lowered ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 price objective for the company. in a research report on Tuesday, May 20th. Barclays lowered 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 report on Thursday, August 28th. Jefferies Financial Group reissued a "hold" rating and set a $17.00 price objective on shares of ZIM Integrated Shipping Services in a research report on Wednesday, August 20th. Citigroup reissued a "sell" rating on shares of ZIM Integrated Shipping Services in a research report on Monday, August 11th. Finally, JPMorgan Chase & Co. raised their price objective on ZIM Integrated Shipping Services from $9.50 to $9.80 and gave the company an "underweight" rating in a research report on Friday, August 22nd. Two research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Strong Sell" and an average price target of $14.58.

ZIM Integrated Shipping Services Price Performance

ZIM opened at $13.20 on Thursday. ZIM Integrated Shipping Services Ltd. has a 1 year low of $11.03 and a 1 year high of $30.15. The stock has a 50-day moving average price of $15.39 and a 200-day moving average price of $16.13. The firm has a market cap of $1.59 billion, a PE ratio of 0.79, a P/E/G ratio of 0.15 and a beta of 1.74. 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 released its quarterly earnings data on Wednesday, August 20th. The company reported $0.19 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.84 billion. Sell-side analysts predict 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 company also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Tuesday, September 2nd. ZIM Integrated Shipping Services's payout ratio is currently 1.44%.

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.

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