ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Receives Average Rating of “Reduce” from Brokerages

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) have received an average recommendation of “Reduce” from the four analysts that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $10.51.

Several analysts have recently weighed in on ZIM shares. Bank of America lowered their price objective on shares of ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating on the stock in a research report on Tuesday, March 19th. JPMorgan Chase & Co. cut their price target on shares of ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $20.00 target price on shares of ZIM Integrated Shipping Services in a research note on Wednesday, March 13th.

ZIM Integrated Shipping Services Stock Up 1.4 %

ZIM opened at $10.22 on Friday. The company has a 50 day moving average of $11.01 and a 200 day moving average of $10.29. The company has a market cap of $1.23 billion, a PE ratio of -0.46 and a beta of 1.84. ZIM Integrated Shipping Services has a 12 month low of $6.39 and a 12 month high of $21.88. The company has a current ratio of 1.02, a quick ratio of 0.95 and a debt-to-equity ratio of 1.35.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings results on Wednesday, March 13th. The company reported ($1.23) EPS for the quarter, beating the consensus estimate of ($1.33) by $0.10. ZIM Integrated Shipping Services had a negative net margin of 52.22% and a negative return on equity of 16.29%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. On average, sell-side analysts expect that ZIM Integrated Shipping Services will post 0.33 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its holdings in ZIM Integrated Shipping Services by 166.9% during 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 ZIM Integrated Shipping Services by 123.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,433,175 shares of the company’s stock valued at $249,626,000 after purchasing an additional 1,897,990 shares in the last quarter. State Street Corp raised its stake in ZIM Integrated Shipping Services by 315.6% during the second quarter. State Street Corp now owns 1,231,540 shares of the company’s stock valued at $58,166,000 after purchasing an additional 935,223 shares in the last quarter. Norges Bank purchased a new stake in ZIM Integrated Shipping Services during the fourth quarter valued at $12,787,000. Finally, Morgan Stanley raised its stake in ZIM Integrated Shipping Services by 75.1% during the fourth quarter. Morgan Stanley now owns 1,118,732 shares of the company’s stock valued at $19,231,000 after purchasing an additional 479,888 shares in the last quarter. 21.42% of the stock is 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.