Swiss National Bank Increases Position in ZIM Integrated Shipping Services Ltd. $ZIM

Key Points

• The Swiss National Bank increased its holdings in ZIM Integrated Shipping Services by 14.6% during the first quarter, now owning 234,600 shares valued at approximately $3.42 million.
• ZIM's stock has faced pressure, with recent earnings showing a miss on consensus estimates, reporting $0.19 earnings per share compared to an expected $1.50.
• Analysts have mixed views on ZIM, with a current average rating of "Strong Sell" and a target price of $14.82, highlighting declining confidence in the stock's performance.

Swiss National Bank boosted its position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 14.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 234,600 shares of the company's stock after acquiring an additional 29,900 shares during the period. Swiss National Bank owned about 0.19% of ZIM Integrated Shipping Services worth $3,423,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Common Retirement Fund acquired a new position in ZIM Integrated Shipping Services during the 1st quarter worth approximately $30,000. Employees Retirement System of Texas acquired a new position in ZIM Integrated Shipping Services during the 4th quarter worth approximately $45,000. Miracle Mile Advisors LLC acquired a new position in ZIM Integrated Shipping Services during the 1st quarter worth approximately $146,000. TD Asset Management Inc acquired a new position in ZIM Integrated Shipping Services during the 1st quarter worth approximately $155,000. Finally, SeaCrest Wealth Management LLC acquired a new position in ZIM Integrated Shipping Services during the 1st quarter worth approximately $161,000. Institutional investors and hedge funds own 21.42% of the company's stock.

Wall Street Analyst Weigh In

ZIM has been the subject of several analyst reports. Clarkson Capital cut shares of ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 price target for the company. in a report on Tuesday, May 20th. Wall Street Zen cut shares of ZIM Integrated Shipping Services from a "hold" rating to a "sell" rating in a report on Friday. Barclays upped their target price on shares of ZIM Integrated Shipping Services from $14.20 to $14.80 and gave the company an "underweight" rating in a report on Friday, June 27th. Jefferies Financial Group restated a "hold" rating and issued a $17.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday, August 20th. Finally, Citigroup restated a "sell" rating on shares of ZIM Integrated Shipping Services in a report on Monday, August 11th. Two equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Strong Sell" and an average target price of $14.88.

ZIM Integrated Shipping Services Stock Performance

NYSE:ZIM traded up $0.36 during trading hours on Tuesday, reaching $14.50. 6,073,251 shares of the company's stock were exchanged, compared to its average volume of 6,214,988. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 0.87, a P/E/G ratio of 0.19 and a beta of 1.75. The company has a quick ratio of 1.11, a current ratio of 1.20 and a debt-to-equity ratio of 1.20. 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 50-day moving average of $16.01 and a 200 day moving average of $16.61.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates 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%. Research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.7%. ZIM Integrated Shipping Services's 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.