ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down - What's Next?

Key Points

• ZIM shares fell 6.6%, opening at $26.80 versus the prior close of $28.49, and last traded near $27.17 on volume of about 1.16 million shares.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $19.33; recent targets ranged from $16.50 to $17.00, while Zacks upgraded the stock to “Strong Buy.”
• ZIM reported a quarterly EPS loss of $0.72, missing estimates by $0.50, while revenue of $1.40 billion also fell short of expectations. Insiders have sold 61,000 shares over the past 90 days, although institutional investors own 21.42% of the company.

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $28.49, but opened at $26.80. ZIM Integrated Shipping Services shares last traded at $27.1740, with a volume of 1,160,543 shares trading hands.

Analyst Ratings Changes

ZIM has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the company an "underweight" rating in a research note on Tuesday, June 30th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a report on Friday, June 5th. Zacks Research upgraded ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 2nd. Finally, JPMorgan Chase & Co. increased their price objective on ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an "underweight" rating in a report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $19.33.

ZIM Integrated Shipping Services Trading Down 6.6%

The company has a debt-to-equity ratio of 1.14, a current ratio of 1.19 and a quick ratio of 1.09. The stock has a market cap of $3.21 billion, a P/E ratio of 32.85 and a beta of 1.21. The firm's fifty day moving average price is $25.33 and its two-hundred day moving average price is $25.71.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.50). ZIM Integrated Shipping Services had a net margin of 1.56% and a negative return on equity of 0.26%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.48 billion. As a group, equities research analysts forecast that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current year.

Insider Activity at ZIM Integrated Shipping Services

In other news, EVP Saar Dotan sold 20,000 shares of the firm's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $24.63, for a total transaction of $492,600.00. Following the sale, the executive vice president owned 131,667 shares in the company, valued at approximately $3,242,958.21. This trade represents a 13.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 61,000 shares of company stock valued at $1,537,310. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of large investors have recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd purchased a new stake in ZIM Integrated Shipping Services in the fourth quarter worth $89,845,000. BNP Paribas Financial Markets increased its stake in ZIM Integrated Shipping Services by 29,305.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,310,614 shares of the company's stock worth $21,088,000 after buying an additional 1,306,157 shares during the period. Oddo BHF Asset Management Sas bought a new stake in ZIM Integrated Shipping Services during the 1st quarter valued at about $30,302,000. Yelin Lapidot Holdings Management Ltd. boosted its position in ZIM Integrated Shipping Services by 34.1% in the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,248,834 shares of the company's stock valued at $68,973,000 after buying an additional 825,848 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in ZIM Integrated Shipping Services by 20.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company's stock valued at $68,879,000 after buying an additional 788,514 shares during the period. Hedge funds and other institutional investors own 21.42% of the company's stock.

About ZIM Integrated Shipping Services

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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