ZIM Integrated Shipping Services Ltd. $ZIM Shares Sold by Nomura Holdings Inc.

Key Points

• Nomura Holdings Inc. reduced its stake in ZIM Integrated Shipping Services by 20.3%, owning 488,100 shares after selling 124,300 shares in the first quarter.
• Several analysts have downgraded ZIM's stock, with a consensus rating of "Strong Sell" and an average target price of $14.58.
• ZIM reported earnings of $0.19 EPS for the quarter, significantly missing estimates of $1.50, and plans to pay a quarterly dividend of $0.06 on September 9.

Nomura Holdings Inc. trimmed its position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 20.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 488,100 shares of the company's stock after selling 124,300 shares during the period. Nomura Holdings Inc. owned approximately 0.41% of ZIM Integrated Shipping Services worth $7,121,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Vident Advisory LLC increased its position in shares of ZIM Integrated Shipping Services by 113.2% during the first quarter. Vident Advisory LLC now owns 314,186 shares of the company's stock worth $4,584,000 after acquiring an additional 166,848 shares during the period. Canada Pension Plan Investment Board increased its position in shares of ZIM Integrated Shipping Services by 97.0% during the first quarter. Canada Pension Plan Investment Board now owns 202,295 shares of the company's stock worth $2,951,000 after acquiring an additional 99,632 shares during the period. State of Wyoming increased its position in shares of ZIM Integrated Shipping Services by 11.3% during the first quarter. State of Wyoming now owns 25,670 shares of the company's stock worth $375,000 after acquiring an additional 2,602 shares during the period. Causeway Capital Management LLC increased its position in shares of ZIM Integrated Shipping Services by 15.5% during the first quarter. Causeway Capital Management LLC now owns 678,540 shares of the company's stock worth $9,900,000 after acquiring an additional 91,022 shares during the period. Finally, Kestra Advisory Services LLC increased its position in shares of ZIM Integrated Shipping Services by 13.6% during the first quarter. Kestra Advisory Services LLC now owns 56,426 shares of the company's stock worth $823,000 after acquiring an additional 6,756 shares during the period. Hedge funds and other institutional investors own 21.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ZIM. Citigroup reaffirmed a "sell" rating on shares of ZIM Integrated Shipping Services in a research report on Monday, August 11th. JPMorgan Chase & Co. upped their price objective on ZIM Integrated Shipping Services from $9.50 to $9.80 and gave the stock an "underweight" rating in a research report on Friday, August 22nd. Jefferies Financial Group reaffirmed 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. Barclays cut their price objective on ZIM Integrated Shipping Services from $14.80 to $13.30 and set an "underweight" rating on the stock in a research report on Thursday, August 28th. Finally, Clarkson Capital lowered ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 target price on the stock. in a report on Tuesday, May 20th. Two analysts have rated the stock with a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat, ZIM Integrated Shipping Services currently has an average rating of "Strong Sell" and an average price target of $14.58.

ZIM Integrated Shipping Services Stock Performance

Shares of ZIM stock traded down $0.18 during mid-day trading on Thursday, hitting $13.34. 3,107,880 shares of the stock were exchanged, compared to its average volume of 6,182,076. The stock's fifty day simple moving average is $15.67 and its two-hundred day simple moving average is $16.37. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 0.80, a P/E/G ratio of 0.16 and a beta of 1.74. 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 issued its quarterly earnings data on Wednesday, August 20th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($1.31). The firm had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.84 billion. ZIM Integrated Shipping Services had a return on equity of 50.61% and a net margin of 23.37%. On average, analysts forecast that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.06 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.24 annualized dividend and a dividend yield of 1.8%. ZIM Integrated Shipping Services's dividend payout ratio is 1.44%.

About ZIM Integrated Shipping Services

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.