ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Sees Significant Decline in Short Interest

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) saw a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 3,809,528 shares, a decrease of 36.2% from the March 15th total of 5,973,037 shares. Approximately 3.2% of the company’s stock are sold short. Based on an average daily volume of 1,927,570 shares, the short-interest ratio is currently 2.0 days.

ZIM Integrated Shipping Services Stock Performance

Shares of ZIM stock traded up $0.25 during trading hours on Thursday, hitting $26.95. The stock had a trading volume of 521,988 shares, compared to its average volume of 3,334,402. The firm has a market capitalization of $3.25 billion, a PE ratio of 6.77 and a beta of 1.55. ZIM Integrated Shipping Services has a twelve month low of $12.33 and a twelve month high of $29.97. The stock’s 50 day moving average is $26.38 and its 200 day moving average is $21.09. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.23 and a quick ratio of 1.15.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.32 earnings per share for the quarter. The business had revenue of $1.48 billion during the quarter. ZIM Integrated Shipping Services had a return on equity of 9.33% and a net margin of 6.94%. As a group, research analysts forecast that ZIM Integrated Shipping Services will post 16.75 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Friday, March 20th were issued a $0.88 dividend. The ex-dividend date of this dividend was Friday, March 20th. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.31. This represents a $3.52 annualized dividend and a dividend yield of 13.1%. ZIM Integrated Shipping Services’s dividend payout ratio is currently 1.51%.

Analyst Upgrades and Downgrades

ZIM has been the topic of several recent analyst reports. Citigroup upgraded shares of ZIM Integrated Shipping Services from a “sell” rating to a “neutral” rating and increased their price target for the company from $11.50 to $31.80 in a research note on Thursday, February 19th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $21.00 price target on shares of ZIM Integrated Shipping Services in a research note on Wednesday, January 14th. Fearnley Fonds upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Weiss Ratings lowered shares of ZIM Integrated Shipping Services from a “buy (b-)” rating to a “hold (c-)” rating in a research note on Tuesday, March 10th. Finally, Barclays increased their price target on shares of ZIM Integrated Shipping Services from $13.70 to $15.80 and gave the company an “underweight” rating in a research note on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.14.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its holdings in shares of ZIM Integrated Shipping Services by 20.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock valued at $68,879,000 after acquiring an additional 788,514 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter valued at approximately $89,845,000. Y.D. More Investments Ltd boosted its holdings in shares of ZIM Integrated Shipping Services by 378,174.5% in the fourth quarter. Y.D. More Investments Ltd now owns 3,782,745 shares of the company’s stock valued at $80,308,000 after acquiring an additional 3,781,745 shares during the period. Yelin Lapidot Holdings Management Ltd. boosted its holdings in shares of ZIM Integrated Shipping Services by 34.1% in the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,248,834 shares of the company’s stock valued at $68,973,000 after acquiring an additional 825,848 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of ZIM Integrated Shipping Services by 13.5% during the third quarter. American Century Companies Inc. now owns 2,986,637 shares of the company’s stock worth $40,469,000 after purchasing an additional 354,538 shares during the period. 21.42% of the stock is owned by institutional investors and hedge funds.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.