ZIM Integrated Shipping Services (NYSE:ZIM) Stock Rating Lowered by Wall Street Zen

Key Points

• ZIM Integrated Shipping Services’ stock has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting a bearish outlook among analysts.
• Multiple analysts have recently set target prices for ZIM, with Barclays raising theirs to $14.80 while Citigroup maintained a "sell" rating.
• The company reported earnings of $0.19 per share, significantly below the consensus estimate of $1.50, indicating financial challenges ahead.

Wall Street Zen downgraded shares of ZIM Integrated Shipping Services (NYSE:ZIM - Free Report) from a hold rating to a sell rating in a research report report published on Friday.

A number of other analysts have also weighed in on ZIM. Jefferies Financial Group reissued a "hold" rating and issued a $17.00 price target on shares of ZIM Integrated Shipping Services in a report on Wednesday, August 20th. Citigroup reissued a "sell" rating on shares of ZIM Integrated Shipping Services in a report on Monday, August 11th. JPMorgan Chase & Co. increased their price target on shares of ZIM Integrated Shipping Services from $9.50 to $9.80 and gave the stock an "underweight" rating in a report on Friday, August 22nd. Clarkson Capital lowered shares of ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 price target on the stock. in a report on Tuesday, May 20th. Finally, Barclays increased their price target on shares of ZIM Integrated Shipping Services from $14.20 to $14.80 and gave the stock an "underweight" rating in a report on Friday, June 27th. Two equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, ZIM Integrated Shipping Services has an average rating of "Strong Sell" and a consensus target price of $14.58.

ZIM Integrated Shipping Services Price Performance

ZIM Integrated Shipping Services stock traded down $0.33 during midday trading on Friday, reaching $13.89. 5,475,091 shares of the stock were exchanged, compared to its average volume of 6,382,379. The company's fifty day moving average is $15.86 and its 200-day moving average is $16.55. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.11 and a current ratio of 1.20. The firm has a market cap of $1.67 billion, a PE ratio of 0.83, a PEG ratio of 0.16 and a beta of 1.75. ZIM Integrated Shipping Services has a 52 week low of $11.03 and a 52 week high of $30.15.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last posted its earnings results on Wednesday, August 20th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $1.50 by ($1.31). The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.84 billion. ZIM Integrated Shipping Services had a return on equity of 50.61% and a net margin of 23.37%. On average, sell-side analysts forecast that ZIM Integrated Shipping Services will post 16.75 EPS for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, September 2nd will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.7%. ZIM Integrated Shipping Services's dividend payout ratio is 5.59%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of institutional investors have recently made changes to their positions in ZIM. Legacy Investment Solutions LLC purchased a new stake in shares of ZIM Integrated Shipping Services in the 2nd quarter valued at $26,000. New York State Common Retirement Fund purchased a new stake in shares of ZIM Integrated Shipping Services in the 1st quarter valued at $30,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of ZIM Integrated Shipping Services in the 2nd quarter valued at $37,000. Employees Retirement System of Texas purchased a new stake in shares of ZIM Integrated Shipping Services in the 4th quarter valued at $45,000. Finally, Allworth Financial LP boosted its position in ZIM Integrated Shipping Services by 230.6% during the 2nd quarter. Allworth Financial LP now owns 3,637 shares of the company's stock valued at $59,000 after buying an additional 2,537 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., 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.