ZIM Integrated Shipping Services (NYSE:ZIM) Price Target Cut to $13.00 by Analysts at Barclays

ZIM Integrated Shipping Services (NYSE:ZIM – Get Rating) had its price target reduced by Barclays from $15.00 to $13.00 in a research report report published on Tuesday, The Fly reports.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. downgraded ZIM Integrated Shipping Services from an overweight rating to a neutral rating and lowered their price objective for the stock from $27.00 to $20.80 in a research report on Friday, April 21st. Jefferies Financial Group reissued a hold rating and set a $20.00 price objective on shares of ZIM Integrated Shipping Services in a research report on Monday, March 13th. Finally, TheStreet downgraded ZIM Integrated Shipping Services from a c- rating to a d+ rating in a research report on Wednesday, April 26th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $23.96.

ZIM Integrated Shipping Services Stock Performance

NYSE ZIM opened at $14.17 on Tuesday. The company has a market cap of $1.70 billion, a P/E ratio of 0.60 and a beta of 2.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.21 and a quick ratio of 1.53. The stock has a 50-day moving average of $19.18 and a two-hundred day moving average of $20.14. ZIM Integrated Shipping Services has a 1-year low of $12.95 and a 1-year high of $70.85.

ZIM Integrated Shipping Services (NYSE:ZIM – Get Rating) last released its earnings results on Monday, May 22nd. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.32). ZIM Integrated Shipping Services had a net margin of 27.90% and a return on equity of 51.73%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the firm earned $14.19 earnings per share. As a group, analysts anticipate that ZIM Integrated Shipping Services will post -1.44 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Friday, March 24th were paid a dividend of $6.40 per share. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.95. The ex-dividend date of this dividend was Tuesday, April 4th. This represents a $25.60 annualized dividend and a yield of 180.66%. ZIM Integrated Shipping Services’s payout ratio is presently 108.15%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several institutional investors have recently added to or reduced their stakes in ZIM. Renaissance Technologies LLC lifted its stake in ZIM Integrated Shipping Services by 166.9% in the first quarter. Renaissance Technologies LLC now owns 4,062,538 shares of the company’s stock valued at $295,387,000 after buying an additional 2,540,500 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of ZIM Integrated Shipping Services by 25.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,011,500 shares of the company’s stock worth $94,591,000 after purchasing an additional 804,958 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of ZIM Integrated Shipping Services by 2.9% during the third quarter. BlackRock Inc. now owns 3,361,309 shares of the company’s stock worth $78,990,000 after purchasing an additional 95,106 shares during the period. Altshuler Shaham Ltd lifted its holdings in shares of ZIM Integrated Shipping Services by 0.6% during the fourth quarter. Altshuler Shaham Ltd now owns 2,565,395 shares of the company’s stock worth $44,099,000 after purchasing an additional 14,254 shares during the period. Finally, Marshall Wace LLP lifted its holdings in shares of ZIM Integrated Shipping Services by 158.2% during the third quarter. Marshall Wace LLP now owns 1,592,960 shares of the company’s stock worth $37,438,000 after purchasing an additional 976,018 shares during the period. Hedge funds and other institutional investors own 36.74% of the company’s stock.

About ZIM Integrated Shipping Services

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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.