ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Short Interest Up 3,633.9% in July

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) was the target of a large growth in short interest in July. As of July 15th, there was short interest totaling 24,700,000 shares, agrowthof3,633.9% from the June 30th total of 661,500 shares. Currently,20.8% of the shares of the stock are short sold. Based on an average daily volume of 6,100,000 shares, the days-to-cover ratio is presently 4.0 days. Based on an average daily volume of 6,100,000 shares, the days-to-cover ratio is presently 4.0 days. Currently,20.8% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

ZIM has been the subject of a number of research analyst reports. Clarkson Capital downgraded shares of ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 price target for the company. in a report on Tuesday, May 20th. Barclays raised their target price on shares of ZIM Integrated Shipping Services from $14.20 to $14.80 and gave the company an "underweight" rating in a report on Friday, June 27th. Jefferies Financial Group raised their target price on shares of ZIM Integrated Shipping Services from $16.00 to $17.00 and gave the company a "hold" rating in a report on Tuesday, May 20th. Finally, Bank of America dropped their target price on shares of ZIM Integrated Shipping Services from $16.00 to $12.80 and set an "underperform" rating for the company in a report on Friday, April 11th. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $14.82.

ZIM Integrated Shipping Services Trading Down 2.7%

Shares of NYSE ZIM traded down $0.43 during midday trading on Friday, reaching $15.42. 4,687,134 shares of the stock were exchanged, compared to its average volume of 6,199,236. The company has a market capitalization of $1.86 billion, a P/E ratio of 0.79, a P/E/G ratio of 0.27 and a beta of 1.76. ZIM Integrated Shipping Services has a 52-week low of $11.03 and a 52-week high of $30.15. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 1.16. The stock has a 50 day moving average price of $16.53 and a 200-day moving average price of $16.80.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last released its earnings results on Monday, May 19th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.84 billion. During the same period last year, the company earned $0.75 earnings per share. Equities research analysts expect that ZIM Integrated Shipping Services will post 16.75 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Announces Dividend

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

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC lifted its position in ZIM Integrated Shipping Services by 4.9% during the fourth quarter. Lazard Asset Management LLC now owns 15,443 shares of the company's stock valued at $331,000 after buying an additional 722 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of 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 purchasing an additional 776 shares in the last quarter. Aigen Investment Management LP lifted its position in shares of ZIM Integrated Shipping Services by 5.4% during the first quarter. Aigen Investment Management LP now owns 16,842 shares of the company's stock worth $246,000 after purchasing an additional 867 shares in the last quarter. Regatta Capital Group LLC lifted its position in shares of ZIM Integrated Shipping Services by 7.6% during the first quarter. Regatta Capital Group LLC now owns 14,699 shares of the company's stock worth $214,000 after purchasing an additional 1,040 shares in the last quarter. Finally, Altshuler Shaham Ltd lifted its position in shares of ZIM Integrated Shipping Services by 650.0% during the fourth quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company's stock worth $32,000 after purchasing an additional 1,300 shares in the last quarter. 21.42% of the stock is owned by institutional investors and hedge funds.

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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