Nomura Holdings Inc. Cuts Position in ZIM Integrated Shipping Services Ltd. $ZIM

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vident Advisory LLC boosted its holdings in ZIM Integrated Shipping Services by 113.2% in the first quarter. Vident Advisory LLC now owns 314,186 shares of the company's stock valued at $4,584,000 after purchasing an additional 166,848 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in ZIM Integrated Shipping Services by 97.0% in the first quarter. Canada Pension Plan Investment Board now owns 202,295 shares of the company's stock valued at $2,951,000 after purchasing an additional 99,632 shares in the last quarter. State of Wyoming boosted its holdings in ZIM Integrated Shipping Services by 11.3% in the first quarter. State of Wyoming now owns 25,670 shares of the company's stock valued at $375,000 after purchasing an additional 2,602 shares in the last quarter. Causeway Capital Management LLC boosted its holdings in ZIM Integrated Shipping Services by 15.5% in the first quarter. Causeway Capital Management LLC now owns 678,540 shares of the company's stock valued at $9,900,000 after purchasing an additional 91,022 shares in the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in ZIM Integrated Shipping Services by 13.6% in the first quarter. Kestra Advisory Services LLC now owns 56,426 shares of the company's stock valued at $823,000 after purchasing an additional 6,756 shares in the last quarter. 21.42% of the stock is owned by institutional investors and hedge funds.

ZIM Integrated Shipping Services Stock Performance

Shares of ZIM Integrated Shipping Services stock traded up $0.15 during trading hours on Friday, hitting $13.48. 3,211,943 shares of the company were exchanged, compared to its average volume of 6,371,511. ZIM Integrated Shipping Services Ltd. has a 1 year low of $11.03 and a 1 year high of $30.15. The company has a current ratio of 1.20, a quick ratio of 1.11 and a debt-to-equity ratio of 1.20. The business has a 50-day moving average of $15.56 and a 200-day moving average of $16.28. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 0.81, a P/E/G ratio of 0.15 and a beta of 1.74.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last released its quarterly earnings results 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 company had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.84 billion. As a group, analysts expect that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Cuts Dividend

The business also recently declared 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. This represents a $0.24 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Tuesday, September 2nd. ZIM Integrated Shipping Services's dividend payout ratio is 1.44%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citigroup reaffirmed a "sell" rating on shares of ZIM Integrated Shipping Services in a report on Monday, August 11th. Barclays decreased their price objective on ZIM Integrated Shipping Services from $14.80 to $13.30 and set an "underweight" rating for the company in a report on Thursday, August 28th. Wall Street Zen downgraded ZIM Integrated Shipping Services from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Clarkson Capital downgraded ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 price objective for the company. in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. increased their price objective on ZIM Integrated Shipping Services from $9.50 to $9.80 and gave the company an "underweight" rating in a report on Friday, August 22nd. Two research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, ZIM Integrated Shipping Services has an average rating of "Strong Sell" and an average target price of $14.58.

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.