ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Sees Significant Increase in Short Interest

Key Points

• Short interest in ZIM Integrated Shipping Services Ltd. surged by 3,633.9% in July, totaling 24.7 million shares, representing 20.8% of the stock.
• Wall Street analysts have mixed ratings for ZIM, with a consensus average target price of $14.82, while several analysts have downgraded their previous ratings.
• The company announced a dividend of $0.74 per share, yielding an astonishing 1,696.0%, indicating strong cash flow despite recent stock performance.

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 24,700,000 shares, anincreaseof3,633.9% from the June 30th total of 661,500 shares. Approximately20.8% of the company's shares are short sold. Based on an average trading volume of 6,100,000 shares, the days-to-cover ratio is currently 4.0 days. Based on an average trading volume of 6,100,000 shares, the days-to-cover ratio is currently 4.0 days. Approximately20.8% of the company's shares are short sold.

Analyst Upgrades and Downgrades

ZIM has been the topic of several recent research reports. Barclays raised their price target on ZIM Integrated Shipping Services from $14.20 to $14.80 and gave the stock an "underweight" rating in a research report on Friday, June 27th. Jefferies Financial Group raised their price target on ZIM Integrated Shipping Services from $16.00 to $17.00 and gave the stock a "hold" rating in a research report on Tuesday, May 20th. Clarkson Capital lowered ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 price target on the stock. in a research report on Tuesday, May 20th. Finally, Bank of America reduced their price target on ZIM Integrated Shipping Services from $16.00 to $12.80 and set an "underperform" rating on the stock in a research report on Friday, April 11th. Four equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $14.82.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several institutional investors have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. lifted its position in ZIM Integrated Shipping Services by 3.5% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 112,260 shares of the company's stock valued at $1,806,000 after acquiring an additional 3,800 shares in the last quarter. Plato Investment Management Ltd bought a new stake in ZIM Integrated Shipping Services during the second quarter worth about $182,000. Y Intercept Hong Kong Ltd raised its holdings in ZIM Integrated Shipping Services by 262.3% during the second quarter. Y Intercept Hong Kong Ltd now owns 328,041 shares of the company's stock worth $5,278,000 after acquiring an additional 237,506 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in ZIM Integrated Shipping Services by 6.0% during the second quarter. Envestnet Asset Management Inc. now owns 13,786 shares of the company's stock worth $222,000 after acquiring an additional 776 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in ZIM Integrated Shipping Services during the second quarter worth about $396,000. 21.42% of the stock is owned by institutional investors.

ZIM Integrated Shipping Services Price Performance

Shares of ZIM remained flat at $15.76 during trading hours on Tuesday. 1,514,325 shares of the company were exchanged, compared to its average volume of 6,141,797. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 1.16. ZIM Integrated Shipping Services has a 1-year low of $11.03 and a 1-year high of $30.15. The company's 50 day moving average is $16.43 and its 200-day moving average is $16.77. The company has a market cap of $1.90 billion, a P/E ratio of 0.81, a P/E/G ratio of 0.21 and a beta of 1.75.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last released its quarterly earnings data on Monday, May 19th. The company reported $2.45 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.56. ZIM Integrated Shipping Services had a net margin of 26.52% and a return on equity of 63.46%. The business had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the prior year, the company earned $0.75 EPS. As a group, equities analysts expect that ZIM Integrated Shipping Services will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, June 3rd were given a $0.74 dividend. This represents a yield of 1,696.0%. The ex-dividend date of this dividend was Monday, June 2nd. ZIM Integrated Shipping Services's payout ratio is currently 4.76%.

ZIM Integrated Shipping Services Company 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.