ZIM Integrated Shipping Services (NYSE:ZIM) Shares Down 3.8% - What's Next?

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 dropped 3.8% on Friday . The company traded as low as $14.32 and last traded at $14.62. Approximately 2,489,434 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 6,081,167 shares. The stock had previously closed at $15.20.

Analyst Upgrades and Downgrades

ZIM has been the topic of a number of recent analyst reports. Citigroup restated a "sell" rating on shares of ZIM Integrated Shipping Services in a report on Monday, August 11th. 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. JPMorgan Chase & Co. upped their price target on shares of ZIM Integrated Shipping Services from $9.50 to $9.80 and gave the company an "underweight" rating in a research note on Friday, August 22nd. Barclays cut their price objective on ZIM Integrated Shipping Services from $14.80 to $13.30 and set an "underweight" rating on the stock in a report on Thursday, August 28th. Finally, Wall Street Zen cut ZIM Integrated Shipping Services from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Two equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Strong Sell" and a consensus price target of $14.58.

ZIM Integrated Shipping Services Price Performance

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 stock's 50-day simple moving average is $15.17 and its two-hundred day simple moving average is $15.77. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 0.88, a PEG ratio of 0.17 and a beta of 1.74.

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 analysts' consensus estimates of $1.50 by ($1.31). The company had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.84 billion. ZIM Integrated Shipping Services had a net margin of 23.37% and a return on equity of 50.61%. Equities research analysts predict that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The business 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 of this dividend was Tuesday, September 2nd. This represents a $0.24 dividend on an annualized basis and a yield of 1.6%. ZIM Integrated Shipping Services's dividend payout ratio is presently 1.44%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of hedge funds have recently bought and sold shares of ZIM. Janney Montgomery Scott LLC raised its holdings in ZIM Integrated Shipping Services by 13.8% in the first quarter. Janney Montgomery Scott LLC now owns 53,658 shares of the company's stock valued at $783,000 after acquiring an additional 6,519 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in ZIM Integrated Shipping Services in the first quarter valued at approximately $8,112,000. Cambridge Investment Research Advisors Inc. raised its holdings in ZIM Integrated Shipping Services by 7.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 97,812 shares of the company's stock valued at $1,427,000 after acquiring an additional 6,873 shares in the last quarter. American Century Companies Inc. raised its holdings in ZIM Integrated Shipping Services by 19.1% in the first quarter. American Century Companies Inc. now owns 2,280,289 shares of the company's stock valued at $33,269,000 after acquiring an additional 366,205 shares in the last quarter. Finally, Bessemer Group Inc. purchased a new position in ZIM Integrated Shipping Services in the first quarter valued at approximately $457,000. 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.