ZIM Integrated Shipping Services (NYSE:ZIM) Sees Large Volume Increase – What’s Next?

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) saw unusually-high trading volume on Friday . Approximately 5,711,315 shares traded hands during trading, a decline of 6% from the previous session’s volume of 6,091,523 shares.The stock last traded at $19.07 and had previously closed at $21.67.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Bank of America upped their price objective on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Barclays raised their price objective on ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Finally, Jefferies Financial Group downgraded ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $15.44.

ZIM Integrated Shipping Services Trading Down 12.6 %

The stock has a fifty day simple moving average of $19.81 and a 200 day simple moving average of $17.51. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.04. The firm has a market cap of $2.28 billion, a P/E ratio of -0.90, a price-to-earnings-growth ratio of 0.05 and a beta of 1.86.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Monday, August 19th. The company reported $3.08 EPS for the quarter, topping the consensus estimate of $2.07 by $1.01. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.71 billion. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. During the same period last year, the company earned ($1.37) EPS. On average, research analysts expect that ZIM Integrated Shipping Services Ltd. will post 10.87 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 29th were given a dividend of $0.93 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $3.72 dividend on an annualized basis and a yield of 19.63%. ZIM Integrated Shipping Services’s dividend payout ratio is -4.35%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in shares of ZIM Integrated Shipping Services by 479.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock worth $58,429,000 after buying an additional 2,181,000 shares during the last quarter. Marshall Wace LLP boosted its position in ZIM Integrated Shipping Services by 638.6% in the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock worth $53,148,000 after purchasing an additional 2,072,715 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in ZIM Integrated Shipping Services in the second quarter worth about $14,383,000. Millennium Management LLC increased its position in shares of ZIM Integrated Shipping Services by 306.7% during the 2nd quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock valued at $9,440,000 after purchasing an additional 321,100 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of ZIM Integrated Shipping Services by 1,226.7% in the 3rd quarter. SG Americas Securities LLC now owns 343,581 shares of the company’s stock worth $8,816,000 after purchasing an additional 317,684 shares during the period. Institutional investors own 21.42% of the company’s stock.

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.