ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down – Time to Sell?

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped down before the market opened on Friday . The stock had previously closed at $13.49, but opened at $12.20. ZIM Integrated Shipping Services shares last traded at $12.36, with a volume of 2,371,485 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Jefferies Financial Group reissued a “hold” rating and issued a $18.00 price target on shares of ZIM Integrated Shipping Services in a research report on Wednesday, March 12th. Barclays dropped their target price on ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating on the stock in a report on Monday, March 17th. Finally, JPMorgan Chase & Co. reduced their price target on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a report on Friday, March 7th. Five research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.54.

ZIM Integrated Shipping Services Trading Down 7.3 %

The firm has a 50 day simple moving average of $18.45 and a 200 day simple moving average of $20.39. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $1.51 billion, a PE ratio of 1.05, a P/E/G ratio of 0.27 and a beta of 1.84.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Wednesday, March 12th. The company reported $4.66 EPS for the quarter, topping the consensus estimate of $3.47 by $1.19. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.99 billion. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. Equities analysts expect that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th were issued a dividend of $3.17 per share. This represents a $12.68 annualized dividend and a dividend yield of 101.36%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. The ex-dividend date of this dividend was Monday, March 24th. ZIM Integrated Shipping Services’s payout ratio is presently 6.51%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of large investors have recently added to or reduced their stakes in ZIM. Renaissance Technologies LLC lifted its holdings in shares of ZIM Integrated Shipping Services by 50.0% during the 4th quarter. Renaissance Technologies LLC now owns 5,726,631 shares of the company’s stock valued at $122,951,000 after buying an additional 1,909,480 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in ZIM Integrated Shipping Services by 33.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,784,352 shares of the company’s stock valued at $81,250,000 after acquiring an additional 940,587 shares during the period. BNP Paribas Financial Markets bought a new position in ZIM Integrated Shipping Services in the fourth quarter valued at about $16,381,000. JPMorgan Chase & Co. boosted its position in ZIM Integrated Shipping Services by 59.4% in the third quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock worth $46,482,000 after purchasing an additional 674,723 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of ZIM Integrated Shipping Services during the 4th quarter valued at about $14,324,000. 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.