ZIM Integrated Shipping Services (NYSE:ZIM) Shares Down 7.1% - Should You Sell?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report)'s share price fell 7.1% during mid-day trading on Friday . The company traded as low as $16.66 and last traded at $16.46. 3,036,472 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 6,117,164 shares. The stock had previously closed at $17.72.

Wall Street Analysts Forecast Growth

Several analysts have commented on ZIM shares. JPMorgan Chase & Co. cut their target price on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an "underweight" rating on the stock in a research note on Friday, March 7th. Jefferies Financial Group upped their price target on ZIM Integrated Shipping Services from $16.00 to $17.00 and gave the company a "hold" rating in a report on Tuesday, May 20th. Bank of America dropped their price objective 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. Clarkson Capital lowered ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 target price for the company. in a research report on Tuesday, May 20th. Finally, Barclays upped their target price on shares of ZIM Integrated Shipping Services from $12.00 to $14.20 and gave the company an "underweight" rating in a research note on Wednesday, May 28th. Four investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $14.70.

ZIM Integrated Shipping Services Stock Performance

The company has a market cap of $1.97 billion, a P/E ratio of 0.84, a P/E/G ratio of 0.28 and a beta of 1.83. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 1.16. The business has a fifty day simple moving average of $16.17 and a two-hundred day simple moving average of $17.65.

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

ZIM Integrated Shipping Services Dividend Announcement

The firm also recently declared a dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $0.74 per share. This represents a dividend yield of 16.96%. The ex-dividend date was Monday, June 2nd. ZIM Integrated Shipping Services's dividend payout ratio is presently 4.76%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several hedge funds and other institutional investors have recently modified their holdings of ZIM. Truist Financial Corp grew its holdings in ZIM Integrated Shipping Services by 10.2% during the fourth quarter. Truist Financial Corp now owns 14,804 shares of the company's stock valued at $318,000 after purchasing an additional 1,376 shares during the period. Global Retirement Partners LLC lifted its position in shares of ZIM Integrated Shipping Services by 66.0% during the 4th quarter. Global Retirement Partners LLC now owns 28,591 shares of the company's stock valued at $614,000 after buying an additional 11,370 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of ZIM Integrated Shipping Services by 39.5% during the 4th quarter. Allianz Asset Management GmbH now owns 1,389,034 shares of the company's stock valued at $29,823,000 after buying an additional 393,215 shares in the last quarter. Sigma Planning Corp grew its stake in shares of ZIM Integrated Shipping Services by 15.1% during the 4th quarter. Sigma Planning Corp now owns 43,232 shares of the company's stock valued at $928,000 after acquiring an additional 5,664 shares during the period. Finally, U S Global Investors Inc. purchased a new stake in ZIM Integrated Shipping Services in the 4th quarter worth approximately $345,000. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

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.