ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) have received an average recommendation of “Reduce” from the four brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $10.51.

A number of research firms have recently weighed in on ZIM. Jefferies Financial Group reiterated a “buy” rating and set a $20.00 price target on shares of ZIM Integrated Shipping Services in a report on Wednesday, March 13th. Bank of America lowered their target price on ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating for the company in a report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. lowered their target price on ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating for the company in a report on Friday, March 22nd.

ZIM Integrated Shipping Services Stock Performance

NYSE ZIM opened at $10.22 on Friday. The stock has a market cap of $1.23 billion, a PE ratio of -0.46 and a beta of 1.84. The company has a current ratio of 1.02, a quick ratio of 0.95 and a debt-to-equity ratio of 1.35. ZIM Integrated Shipping Services has a twelve month low of $6.39 and a twelve month high of $21.88. The stock has a fifty day simple moving average of $11.01 and a 200-day simple moving average of $10.29.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($1.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.33) by $0.10. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.23 billion. ZIM Integrated Shipping Services had a negative return on equity of 16.29% and a negative net margin of 52.22%. Equities analysts anticipate that ZIM Integrated Shipping Services will post 0.33 earnings per share for the current year.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently bought and sold shares of ZIM. Raymond James Financial Services Advisors Inc. acquired a new stake in ZIM Integrated Shipping Services in the 1st quarter valued at about $1,851,000. Bank of New York Mellon Corp acquired a new stake in ZIM Integrated Shipping Services in the 1st quarter valued at about $13,790,000. American Century Companies Inc. acquired a new stake in ZIM Integrated Shipping Services in the 1st quarter valued at about $527,000. Cetera Advisor Networks LLC acquired a new stake in ZIM Integrated Shipping Services in the 1st quarter valued at about $244,000. Finally, PNC Financial Services Group Inc. raised its position in ZIM Integrated Shipping Services by 1,625.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,900 shares of the company’s stock valued at $502,000 after purchasing an additional 6,500 shares in the last quarter. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

ZIM Integrated Shipping Services Company Profile

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.