ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Down 4.8% – Here’s Why

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price fell 4.8% on Thursday . The stock traded as low as $16.62 and last traded at $16.68. 4,741,774 shares traded hands during trading, a decline of 24% from the average session volume of 6,252,974 shares. The stock had previously closed at $17.51.

Wall Street Analyst Weigh In

Several brokerages have commented on ZIM. Jefferies Financial Group dropped their target price on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday, December 17th. Fearnley Fonds lowered shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. Barclays reduced their target price on shares of ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Finally, Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.04.

ZIM Integrated Shipping Services Stock Down 0.3 %

The stock has a market capitalization of $2.00 billion, a P/E ratio of 1.39, a PEG ratio of 0.22 and a beta of 1.77. The firm’s 50-day simple moving average is $21.26 and its 200 day simple moving average is $20.63. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were paid a $2.81 dividend. This represents a $11.24 dividend on an annualized basis and a yield of 67.81%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, December 2nd. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently 9.72%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several large investors have recently made changes to their positions in ZIM. Rhumbline Advisers raised its position in ZIM Integrated Shipping Services by 39.3% during the second quarter. Rhumbline Advisers now owns 11,732 shares of the company’s stock worth $260,000 after acquiring an additional 3,311 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of ZIM Integrated Shipping Services by 73.1% during the 2nd quarter. Hsbc Holdings PLC now owns 50,860 shares of the company’s stock worth $1,116,000 after purchasing an additional 21,474 shares during the last quarter. XTX Topco Ltd raised its holdings in shares of ZIM Integrated Shipping Services by 523.9% in the 2nd quarter. XTX Topco Ltd now owns 73,774 shares of the company’s stock valued at $1,636,000 after purchasing an additional 61,949 shares during the period. Marshall Wace LLP lifted its stake in ZIM Integrated Shipping Services by 638.6% in the 2nd quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock valued at $53,148,000 after purchasing an additional 2,072,715 shares during the last quarter. Finally, Encompass Capital Advisors LLC bought a new position in ZIM Integrated Shipping Services during the second quarter worth about $14,383,000. Institutional investors and hedge funds 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.