Short Interest in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Decreases By 36.2%

Key Points

• Short interest in ZIM fell 36.2% to 3,809,528 shares as of March 31, equal to 3.2% of shares outstanding and a days-to-cover ratio of 2.0 based on average daily volume.
• ZIM raised its quarterly dividend to $0.88 (paid March 26), an annualized $3.52 representing a 13.3% yield, up from the prior $0.31 quarterly payout.
• Shares traded at $26.39 with a market cap of $3.18 billion and a P/E of 6.63; analysts have a consensus rating of Hold and a $18.14 price target.

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totaling 3,809,528 shares, a decline of 36.2% from the March 15th total of 5,973,037 shares. Based on an average daily trading volume, of 1,927,570 shares, the days-to-cover ratio is currently 2.0 days. Currently, 3.2% of the company's shares are short sold.

ZIM Integrated Shipping Services Trading Down 0.5%

NYSE:ZIM traded down $0.14 during trading hours on Tuesday, hitting $26.39. The company had a trading volume of 1,254,871 shares, compared to its average volume of 1,514,228. The company has a market capitalization of $3.18 billion, a PE ratio of 6.63 and a beta of 1.55. The stock has a 50-day moving average price of $26.27 and a 200 day moving average price of $21.05. ZIM Integrated Shipping Services has a 52 week low of $12.33 and a 52 week high of $29.97. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.23 and a quick ratio of 1.15.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its earnings results on Saturday, February 14th. The company reported $0.32 EPS for the quarter. ZIM Integrated Shipping Services had a net margin of 6.94% and a return on equity of 9.33%. The firm had revenue of $1.48 billion for the quarter. On average, equities research analysts predict that ZIM Integrated Shipping Services will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Friday, March 20th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 13.3%. The ex-dividend date was Friday, March 20th. This is a positive change from ZIM Integrated Shipping Services's previous quarterly dividend of $0.31. ZIM Integrated Shipping Services's dividend payout ratio (DPR) is presently 1.51%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of hedge funds have recently bought and sold shares of ZIM. Hoey Investments Inc. bought a new position in ZIM Integrated Shipping Services in the 4th quarter worth about $25,000. Lodestone Wealth Management LLC bought a new position in ZIM Integrated Shipping Services during the 4th quarter valued at about $29,000. Quarry LP bought a new position in ZIM Integrated Shipping Services during the 3rd quarter valued at about $34,000. Huntington National Bank lifted its stake in ZIM Integrated Shipping Services by 200,000.0% during the 4th quarter. Huntington National Bank now owns 2,001 shares of the company's stock valued at $42,000 after acquiring an additional 2,000 shares during the period. Finally, Triumph Capital Management bought a new position in ZIM Integrated Shipping Services during the 3rd quarter valued at about $44,000. Institutional investors own 21.42% of the company's stock.

Wall Street Analysts Forecast Growth

ZIM has been the topic of several analyst reports. Fearnley Fonds raised shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 18th. Citigroup raised shares of ZIM Integrated Shipping Services from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $11.50 to $31.80 in a research note on Thursday, February 19th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $21.00 target price on shares of ZIM Integrated Shipping Services in a research note on Wednesday, January 14th. Weiss Ratings downgraded shares of ZIM Integrated Shipping Services from a "buy (b-)" rating to a "hold (c-)" rating in a research note on Tuesday, March 10th. Finally, Barclays lifted their target price on shares of ZIM Integrated Shipping Services from $13.70 to $15.80 and gave the stock an "underweight" rating in a research note on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, ZIM Integrated Shipping Services currently has a consensus rating of "Hold" and a consensus price target of $18.14.

ZIM Integrated Shipping Services Company Profile

ZIM Integrated Shipping Services Ltd. NYSE: ZIM is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.

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