ZIM Integrated Shipping Services (NYSE:ZIM) Shares Down 9.9% After Analyst Downgrade

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price dropped 9.9% 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 changed hands 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 research analysts have also weighed in on ZIM. Fearnley Fonds lowered shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. Clarkson Capital upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group cut their target price on ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating for the company in a research note on Tuesday, December 17th. Five investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $15.04.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Large investors have recently added to or reduced their stakes in the business. Fairman Group LLC bought a new position in ZIM Integrated Shipping Services in the 3rd quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of ZIM Integrated Shipping Services in the third quarter worth approximately $31,000. Northwestern Mutual Wealth Management Co. raised its stake in ZIM Integrated Shipping Services by 2,341.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock valued at $43,000 after purchasing an additional 1,850 shares in the last quarter. American Capital Advisory LLC bought a new stake in ZIM Integrated Shipping Services during the third quarter valued at approximately $69,000. Finally, Sunbelt Securities Inc. purchased a new position in ZIM Integrated Shipping Services in the 3rd quarter worth approximately $71,000. Institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Trading Down 7.4 %

The stock’s 50 day simple moving average is $21.98 and its 200 day simple moving average is $20.78. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33. The firm has a market cap 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. Investors 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 58.57%. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s dividend payout ratio 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.