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ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down to $20.16

ZIM Integrated Shipping Services logo with Transportation background

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $20.16, but opened at $19.61. ZIM Integrated Shipping Services shares last traded at $19.64, with a volume of 423,145 shares traded.

Analysts Set New Price Targets

A number of analysts have commented on ZIM shares. JPMorgan Chase & Co. lowered their price target on ZIM Integrated Shipping Services from $9.30 to $9.25 and set a "neutral" rating for the company in a research report on Friday, March 22nd. Bank of America cut their price target on shares of ZIM Integrated Shipping Services from $11.00 to $7.80 and set an "underperform" rating on the stock in a report on Tuesday, March 19th. Barclays raised their price target on shares of ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the stock an "underweight" rating in a research report on Tuesday, May 28th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $20.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday, May 22nd. Finally, Citigroup cut shares of ZIM Integrated Shipping Services from a "neutral" rating to a "sell" rating and raised their target price for the stock from $11.60 to $13.00 in a report on Thursday, June 6th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $12.01.

Check Out Our Latest Research Report on ZIM Integrated Shipping Services


ZIM Integrated Shipping Services Trading Down 2.5 %

The company's fifty day simple moving average is $16.93 and its 200-day simple moving average is $13.28. The firm has a market capitalization of $2.37 billion, a PE ratio of -0.93, a P/E/G ratio of 0.31 and a beta of 1.88. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.98 and a quick ratio of 0.90.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its earnings results on Tuesday, May 21st. The company reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $1.09 by ($0.34). The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.53 billion. ZIM Integrated Shipping Services had a negative net margin of 47.59% and a negative return on equity of 14.80%. As a group, sell-side analysts expect that ZIM Integrated Shipping Services Ltd. will post 1.88 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, June 4th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.92 annualized dividend and a yield of 4.68%. ZIM Integrated Shipping Services's dividend payout ratio is presently -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC increased its position in ZIM Integrated Shipping Services by 346.2% during the third quarter. Hsbc Holdings PLC now owns 55,779 shares of the company's stock worth $586,000 after purchasing an additional 43,277 shares during the last quarter. Bluefin Capital Management LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the 3rd quarter valued at approximately $340,000. AXQ Capital LP acquired a new position in ZIM Integrated Shipping Services in the third quarter valued at approximately $358,000. American Century Companies Inc. lifted its holdings in ZIM Integrated Shipping Services by 12.4% in the third quarter. American Century Companies Inc. now owns 898,491 shares of the company's stock valued at $9,389,000 after acquiring an additional 99,477 shares during the last quarter. Finally, Citigroup Inc. increased its stake in ZIM Integrated Shipping Services by 77.1% during the third quarter. Citigroup Inc. now owns 5,403 shares of the company's stock worth $56,000 after acquiring an additional 2,352 shares during the last quarter. Hedge funds and other institutional investors own 21.42% of the company's stock.

About ZIM Integrated Shipping Services

(Get Free Report)

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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