ZIM Integrated Shipping Services (NYSE:ZIM) Lowered to “Strong Sell” Rating by Fearnley Fonds

Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services (NYSE:ZIM) from a hold rating to a strong sell rating in a report released on Thursday,Zacks.com reports.

ZIM has been the subject of a number of other research reports. Bank of America increased their target price on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Jefferies Financial Group restated a “hold” rating and set a $25.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Finally, Barclays raised their target price on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the company an “underweight” rating in a research report on Wednesday, October 23rd. Five analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $15.22.

ZIM Integrated Shipping Services Stock Performance

ZIM Integrated Shipping Services stock opened at $23.79 on Thursday. The business has a 50 day moving average of $22.78 and a 200-day moving average of $20.47. ZIM Integrated Shipping Services has a 1 year low of $6.39 and a 1 year high of $30.15. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 0.97. The company has a market capitalization of $2.86 billion, a P/E ratio of 1.99, a P/E/G ratio of 0.04 and a beta of 1.88.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be given a dividend of $2.81 per share. This represents a $11.24 dividend on an annualized basis and a dividend yield of 47.25%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is 9.72%.

Institutional Trading of ZIM Integrated Shipping Services

A number of large investors have recently modified their holdings of ZIM. International Assets Investment Management LLC lifted its position in ZIM Integrated Shipping Services by 2,228.7% in the 3rd quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock worth $10,337,000 after buying an additional 385,562 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in ZIM Integrated Shipping Services in the 2nd quarter worth approximately $2,343,000. SG Americas Securities LLC lifted its position in ZIM Integrated Shipping Services by 1,226.7% in the 3rd quarter. SG Americas Securities LLC now owns 343,581 shares of the company’s stock worth $8,816,000 after buying an additional 317,684 shares during the last quarter. Clear Harbor Asset Management LLC lifted its position in ZIM Integrated Shipping Services by 337.7% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 51,450 shares of the company’s stock worth $1,320,000 after buying an additional 39,695 shares during the last quarter. Finally, Millennium Management LLC lifted its position in ZIM Integrated Shipping Services by 306.7% in the 2nd quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock worth $9,440,000 after buying an additional 321,100 shares during the last quarter. Institutional investors own 21.42% of the company’s stock.

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.