Short Interest in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Decreases By 22.7%

Key Points

• Short interest in ZIM Integrated Shipping Services Ltd. decreased by 22.7%, totaling 18.7 million shares as of August 15th, representing approximately 15.7% of the company's shares sold short.
• Recent analyst ratings show a predominance of negative outlooks, with an average rating of "Strong Sell" and a target price of $14.58.
• The company's recent earnings report revealed earnings per share of $0.19, significantly below the expected $1.50, with reported revenue of $1.64 billion against estimates of $1.84 billion.

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) was the recipient of a large decline in short interest in the month of August. As of August 15th, there was short interest totaling 18,700,000 shares, adeclineof22.7% from the July 31st total of 24,180,000 shares. Approximately15.7% of the company's shares are sold short. Based on an average daily volume of 5,860,000 shares, the days-to-cover ratio is currently 3.2 days. Based on an average daily volume of 5,860,000 shares, the days-to-cover ratio is currently 3.2 days. Approximately15.7% of the company's shares are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ZIM shares. Citigroup reaffirmed a "sell" rating on shares of ZIM Integrated Shipping Services in a research report on Monday, August 11th. Jefferies Financial Group reissued a "hold" rating and issued a $17.00 price target on shares of ZIM Integrated Shipping Services in a research report on Wednesday, August 20th. Barclays reduced their target price 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. Wall Street Zen lowered ZIM Integrated Shipping Services from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Finally, JPMorgan Chase & Co. upped their target price on ZIM Integrated Shipping Services from $9.50 to $9.80 and gave the company an "underweight" rating in a research 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. 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.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Large investors have recently bought and sold shares of the stock. Legacy Investment Solutions LLC acquired a new stake in ZIM Integrated Shipping Services during the 2nd quarter valued at $26,000. New York State Common Retirement Fund acquired a new stake in ZIM Integrated Shipping Services during the 1st quarter valued at $30,000. Employees Retirement System of Texas acquired a new stake in ZIM Integrated Shipping Services during the 4th quarter valued at $45,000. Edmond DE Rothschild Holding S.A. acquired a new stake in ZIM Integrated Shipping Services during the 2nd quarter valued at $37,000. Finally, Allworth Financial LP grew its holdings in ZIM Integrated Shipping Services by 230.6% during the 2nd quarter. Allworth Financial LP now owns 3,637 shares of the company's stock valued at $59,000 after buying an additional 2,537 shares during the last quarter. Institutional investors and hedge funds own 21.42% of the company's stock.

ZIM Integrated Shipping Services Stock Performance

NYSE ZIM opened at $13.51 on Tuesday. 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's 50 day moving average is $15.51 and its two-hundred day moving average is $16.17. ZIM Integrated Shipping Services has a 12-month low of $11.03 and a 12-month high of $30.15. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 0.81, a PEG ratio of 0.16 and a beta of 1.74.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last released its earnings results 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 business had revenue of $1.64 billion for the quarter, compared to analyst estimates 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 expect that ZIM Integrated Shipping Services will post 16.75 EPS for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, September 2nd will be given 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 is currently 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.

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