ZIM Integrated Shipping Services (NYSE:ZIM) Downgraded by Citigroup to “Sell”

Citigroup cut shares of ZIM Integrated Shipping Services (NYSE:ZIMFree Report) from a neutral rating to a sell rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. Citigroup currently has $13.00 price target on the stock, up from their previous price target of $11.60.

Other analysts have also issued research reports about the stock. Barclays increased their price target on shares of ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the stock an underweight rating in a research report on Tuesday, May 28th. Jefferies Financial Group reiterated a buy rating and issued a $20.00 price target on shares of ZIM Integrated Shipping Services in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. dropped their price objective on ZIM Integrated Shipping Services from $9.30 to $9.25 and set a neutral rating for the company in a research report on Friday, March 22nd. Finally, Bank of America decreased their target price on 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. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, ZIM Integrated Shipping Services currently has a consensus rating of Hold and an average target price of $12.01.

View Our Latest Research Report on ZIM

ZIM Integrated Shipping Services Trading Up 1.0 %

Shares of NYSE:ZIM opened at $19.54 on Thursday. The stock has a market cap of $2.35 billion, a PE ratio of -0.92, a P/E/G ratio of 0.32 and a beta of 1.88. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 1.49. ZIM Integrated Shipping Services has a 12-month low of $6.39 and a 12-month high of $23.82. The business has a 50 day moving average of $15.25 and a 200-day moving average of $12.52.

ZIM Integrated Shipping Services (NYSE:ZIMGet Free Report) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($1.23) EPS for the quarter, topping analysts’ consensus estimates of ($1.33) by $0.10. ZIM Integrated Shipping Services had a negative net margin of 47.59% and a negative return on equity of 14.80%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. As a group, equities research analysts forecast that ZIM Integrated Shipping Services will post 1.88 earnings per share for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, June 4th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Tuesday, June 4th. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several institutional investors have recently modified their holdings of the business. American Century Companies Inc. boosted its holdings in shares of ZIM Integrated Shipping Services by 12.4% in the third quarter. American Century Companies Inc. now owns 898,491 shares of the company’s stock worth $9,389,000 after acquiring an additional 99,477 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of ZIM Integrated Shipping Services by 82.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 512,103 shares of the company’s stock valued at $5,054,000 after buying an additional 231,955 shares during the period. International Assets Investment Management LLC boosted its position in shares of ZIM Integrated Shipping Services by 1,204.6% in the fourth quarter. International Assets Investment Management LLC now owns 173,712 shares of the company’s stock valued at $17,600,000 after acquiring an additional 160,397 shares during the period. Allianz Asset Management GmbH increased its holdings in ZIM Integrated Shipping Services by 1,446.0% during the 4th quarter. Allianz Asset Management GmbH now owns 161,552 shares of the company’s stock worth $1,595,000 after acquiring an additional 151,102 shares during the period. Finally, Clear Harbor Asset Management LLC lifted its stake in ZIM Integrated Shipping Services by 100.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 138,475 shares of the company’s stock worth $1,367,000 after purchasing an additional 69,445 shares in the last quarter. 21.42% of the stock is owned by institutional investors.

ZIM Integrated Shipping Services Company Profile

(Get Free Report)

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.

Read More

Analyst Recommendations for ZIM Integrated Shipping Services (NYSE:ZIM)

Receive News & Ratings for ZIM Integrated Shipping Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ZIM Integrated Shipping Services and related companies with MarketBeat.com's FREE daily email newsletter.