Jefferies Financial Group Cuts ZIM Integrated Shipping Services (NYSE:ZIM) Price Target to $16.00

ZIM Integrated Shipping Services (NYSE:ZIM – Get Rating) had its target price cut by Jefferies Financial Group from $20.00 to $16.00 in a report issued on Tuesday, The Fly reports.

Several other research firms also recently issued reports on ZIM. JPMorgan Chase & Co. downgraded ZIM Integrated Shipping Services from an overweight rating to a neutral rating and dropped their price objective for the stock from $27.00 to $20.80 in a report on Friday, April 21st. TheStreet downgraded ZIM Integrated Shipping Services from a c- rating to a d+ rating in a report on Wednesday, April 26th. Finally, Barclays lowered their price target on ZIM Integrated Shipping Services from $15.00 to $13.00 in a report on Tuesday. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, ZIM Integrated Shipping Services currently has an average rating of Hold and an average price target of $23.96.

ZIM Integrated Shipping Services Price Performance

ZIM stock opened at $14.17 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 1.21 and a debt-to-equity ratio of 0.61. ZIM Integrated Shipping Services has a 52-week low of $12.95 and a 52-week high of $70.85. The stock’s 50 day moving average is $19.18 and its two-hundred day moving average is $20.14. The company has a market capitalization of $1.70 billion, a PE ratio of 0.60 and a beta of 2.11.

ZIM Integrated Shipping Services (NYSE:ZIM – Get Rating) last posted its quarterly earnings data on Monday, May 22nd. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.32). ZIM Integrated Shipping Services had a return on equity of 51.73% and a net margin of 27.90%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the firm earned $14.19 earnings per share. Analysts predict that ZIM Integrated Shipping Services will post -1.44 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Friday, March 24th were issued a $6.40 dividend. This represents a $25.60 dividend on an annualized basis and a dividend yield of 180.66%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.95. The ex-dividend date of this dividend was Tuesday, April 4th. ZIM Integrated Shipping Services’s payout ratio is 108.15%.

Institutional Inflows and Outflows

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

ZIM Integrated Shipping Services Company Profile

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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.