ZIM Integrated Shipping Services Ltd. $ZIM Position Increased by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its stake in ZIM Integrated Shipping Services by 113.2% in the first quarter, owning 314,186 shares valued at approximately $4.58 million.
• Despite recent increases in institutional investment, ZIM has faced rating downgrades from several research firms, with Barclays and Clarkson Capital lowering their price targets and ratings.
• ZIM reported a quarterly earnings miss with an EPS of $0.19, significantly below analyst expectations of $1.50, and also announced a reduced dividend of $0.06 per share.

Vident Advisory LLC grew its position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 113.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 314,186 shares of the company's stock after buying an additional 166,848 shares during the quarter. Vident Advisory LLC owned 0.26% of ZIM Integrated Shipping Services worth $4,584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ZIM. New York State Common Retirement Fund purchased a new position in ZIM Integrated Shipping Services in the first quarter valued at $30,000. Employees Retirement System of Texas purchased a new stake in ZIM Integrated Shipping Services during the 4th quarter worth about $45,000. Miracle Mile Advisors LLC purchased a new stake in ZIM Integrated Shipping Services during the 1st quarter worth about $146,000. TD Asset Management Inc purchased a new stake in ZIM Integrated Shipping Services during the 1st quarter worth about $155,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in ZIM Integrated Shipping Services during the 1st quarter worth about $161,000. 21.42% of the stock is owned by institutional investors and hedge funds.

ZIM Integrated Shipping Services Stock Down 0.9%

NYSE ZIM traded down $0.12 during trading hours on Friday, hitting $13.22. The company had a trading volume of 1,516,213 shares, compared to its average volume of 6,153,998. ZIM Integrated Shipping Services Ltd. has a fifty-two week low of $11.03 and a fifty-two week high of $30.15. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 0.79, a P/E/G ratio of 0.16 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. The firm's 50 day moving average is $15.62 and its 200 day moving average is $16.32.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued 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 the consensus estimate of $1.84 billion. Sell-side analysts anticipate 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 will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, September 2nd will be paid a $0.06 dividend. 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 (DPR) is presently 1.44%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ZIM. Jefferies Financial Group reiterated a "hold" rating and set a $17.00 target price on shares of ZIM Integrated Shipping Services in a research report on Wednesday, August 20th. Wall Street Zen cut ZIM Integrated Shipping Services from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Clarkson Capital cut ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 target price on the stock. in a research report on Tuesday, May 20th. Citigroup reiterated a "sell" rating on shares of ZIM Integrated Shipping Services in a research report on Monday, August 11th. Finally, JPMorgan Chase & Co. boosted their target price 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. Two investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Strong Sell" and an average target price of $14.58.

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.