Short Interest in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Declines By 22.7%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) was the target of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totaling 18,700,000 shares, a decrease of 22.7% from the July 31st total of 24,180,000 shares. Approximately 15.7% of the company’s shares are short sold. Based on an average trading volume of 5,860,000 shares, the days-to-cover ratio is presently 3.2 days. Based on an average trading volume of 5,860,000 shares, the days-to-cover ratio is presently 3.2 days. Approximately 15.7% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

ZIM has been the topic of a number of research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $17.00 price target on shares of ZIM Integrated Shipping Services in a research report on Wednesday, August 20th. JPMorgan Chase & Co. upped their price target on shares of ZIM Integrated Shipping Services from $9.50 to $9.80 and gave the company an “underweight” rating in a research report on Friday, August 22nd. Clarkson Capital cut shares of ZIM Integrated Shipping Services from a “buy” rating to a “neutral” rating and set a $20.00 price target on the stock. in a research report on Tuesday, May 20th. Wall Street Zen cut shares of ZIM Integrated Shipping Services from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. Finally, Barclays cut their price objective on shares of ZIM Integrated Shipping Services from $14.80 to $13.30 and set an “underweight” rating on the stock in a research report on Thursday, August 28th. Two research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Strong Sell” and an average target price of $14.58.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its position in ZIM Integrated Shipping Services by 159.6% in the 2nd quarter. Osaic Holdings Inc. now owns 48,235 shares of the company’s stock valued at $776,000 after acquiring an additional 29,654 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in ZIM Integrated Shipping Services in the 2nd quarter valued at about $453,000. Marex Group plc bought a new position in ZIM Integrated Shipping Services in the 2nd quarter valued at about $415,000. Advisory Services Network LLC lifted its position in ZIM Integrated Shipping Services by 22.0% in the 2nd quarter. Advisory Services Network LLC now owns 39,742 shares of the company’s stock valued at $630,000 after acquiring an additional 7,169 shares in the last quarter. Finally, State of Wyoming lifted its position in ZIM Integrated Shipping Services by 25.6% in the 2nd quarter. State of Wyoming now owns 32,237 shares of the company’s stock valued at $519,000 after acquiring an additional 6,567 shares in the last quarter. Institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Price Performance

ZIM stock opened at $13.20 on Thursday. The stock has a market capitalization of $1.59 billion, a PE ratio of 0.79, a price-to-earnings-growth ratio of 0.15 and a beta of 1.74. The company’s 50-day moving average is $15.39 and its 200-day moving average is $16.13. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.20 and a quick ratio of 1.11. ZIM Integrated Shipping Services has a 1 year low of $11.03 and a 1 year high of $30.15.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings results on Wednesday, August 20th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($1.31). ZIM Integrated Shipping Services had a net margin of 23.37% and a return on equity of 50.61%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.84 billion. Equities research analysts expect that ZIM Integrated Shipping Services will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, September 2nd were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.24 annualized dividend and a yield of 1.8%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently 1.44%.

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.