ZIM Integrated Shipping Services (NYSE:ZIM) Trading Down 9.9% on Analyst Downgrade

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) was down 9.9% during trading on Friday after Barclays lowered their price target on the stock from $16.50 to $16.00. Barclays currently has an underweight rating on the stock. ZIM Integrated Shipping Services traded as low as $18.54 and last traded at $18.67. Approximately 2,248,043 shares were traded during trading, a decline of 49% from the average daily volume of 4,416,956 shares. The stock had previously closed at $20.72.

A number of other equities research analysts have also weighed in on ZIM. Jefferies Financial Group lowered 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. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Fearnley Fonds lowered ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.04.

Institutional Trading of ZIM Integrated Shipping Services

A number of institutional investors and hedge funds have recently modified their holdings of ZIM. Fairman Group LLC bought a new position in ZIM Integrated Shipping Services in the 3rd quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of ZIM Integrated Shipping Services in the 3rd quarter worth about $31,000. Northwestern Mutual Wealth Management Co. grew its position in ZIM Integrated Shipping Services by 2,341.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock valued at $43,000 after buying an additional 1,850 shares during the period. American Capital Advisory LLC purchased a new stake in ZIM Integrated Shipping Services during the third quarter worth about $69,000. Finally, Sunbelt Securities Inc. bought a new stake in ZIM Integrated Shipping Services in the third quarter worth about $71,000. 21.42% of the stock is owned by hedge funds and other institutional investors.

ZIM Integrated Shipping Services Trading Down 7.4 %

The stock’s 50 day simple moving average is $21.98 and its two-hundred day simple moving average is $20.78. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26. The stock has a market capitalization of $2.31 billion, a PE ratio of 1.61, a PEG ratio of 0.04 and a beta of 1.77.

ZIM Integrated Shipping Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were given a $2.81 dividend. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 dividend on an annualized basis and a yield of 58.57%. The ex-dividend date was Monday, December 2nd. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently 9.72%.

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.