ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Down 3.8% - Here's What Happened

Key Points

• ZIM Integrated Shipping Services shares fell by 3.8%, trading around $14.62 after reaching a low of $14.32, with trading volume significantly down by 59% compared to the average.
• Analysts generally have a "Strong Sell" consensus on ZIM, with most rating the stock as either "sell" or "underweight," and a target price averaging around $14.58.
• The company reported disappointing earnings, with EPS of $0.19 missing expectations of $1.50, alongside a revenue of $1.64 billion compared to the forecast of $1.84 billion.

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report)'s stock price traded down 3.8% on Friday . The stock traded as low as $14.32 and last traded at $14.62. 2,489,434 shares were traded during trading, a decline of 59% from the average session volume of 6,081,167 shares. The stock had previously closed at $15.20.

Analysts Set New Price Targets

Several research firms recently commented on ZIM. JPMorgan Chase & Co. raised 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. Barclays cut their price target on ZIM Integrated Shipping Services from $14.80 to $13.30 and set an "underweight" rating for the company in a report on Thursday, August 28th. Wall Street Zen cut ZIM Integrated Shipping Services from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Citigroup reiterated a "sell" rating on shares of ZIM Integrated Shipping Services in a research report on Monday, August 11th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $17.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday, August 20th. Two analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Strong Sell" and a consensus price target of $14.58.

ZIM Integrated Shipping Services Stock Down 5.3%

The company has a quick ratio of 1.11, a current ratio of 1.20 and a debt-to-equity ratio of 1.20. The firm has a market cap of $1.73 billion, a PE ratio of 0.86, a price-to-earnings-growth ratio of 0.17 and a beta of 1.74. The business has a 50-day moving average price of $15.17 and a two-hundred day moving average price of $15.77.

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

ZIM Integrated Shipping Services Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, September 2nd were given a $0.06 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.24 annualized dividend and a yield of 1.7%. ZIM Integrated Shipping Services's dividend payout ratio is 1.44%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ZIM. Nuveen Asset Management LLC grew its stake in ZIM Integrated Shipping Services by 750.0% in the 4th quarter. Nuveen Asset Management LLC now owns 625,833 shares of the company's stock valued at $13,437,000 after buying an additional 552,206 shares during the last quarter. Tidal Investments LLC boosted its holdings in ZIM Integrated Shipping Services by 19.0% in the 4th quarter. Tidal Investments LLC now owns 81,539 shares of the company's stock valued at $1,751,000 after purchasing an additional 13,009 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in ZIM Integrated Shipping Services by 31.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 284,186 shares of the company's stock valued at $6,101,000 after purchasing an additional 68,708 shares during the period. Mackenzie Financial Corp bought a new stake in ZIM Integrated Shipping Services in the 4th quarter valued at $559,000. Finally, Employees Retirement System of Texas bought a new stake in ZIM Integrated Shipping Services in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 21.42% of the company's stock.

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.