Jefferies Financial Group Has Lowered Expectations for ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price

ZIM Integrated Shipping Services (NYSE:ZIM) had its price objective cut by Jefferies Financial Group from $28.00 to $22.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other analysts have also weighed in on ZIM. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.50 target price on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Bank of America lifted 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 research report on Wednesday, August 28th. Barclays increased their target price on ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an “underweight” rating in a report on Monday, November 25th. Finally, Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Five equities research 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.14.

ZIM Integrated Shipping Services Trading Down 5.7 %

NYSE:ZIM opened at $18.41 on Tuesday. ZIM Integrated Shipping Services has a 12-month low of $9.08 and a 12-month high of $30.15. The firm has a market cap of $2.22 billion, a PE ratio of 1.54, a price-to-earnings-growth ratio of 0.04 and a beta of 1.78. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The stock has a fifty day moving average price of $22.38 and a 200 day moving average price of $20.66.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were paid a dividend of $2.81 per share. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 annualized dividend and a yield of 61.07%. The ex-dividend date of this dividend was Monday, December 2nd. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its position in shares of ZIM Integrated Shipping Services by 479.9% during the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock worth $58,429,000 after purchasing an additional 2,181,000 shares in the last quarter. Marshall Wace LLP grew its stake in ZIM Integrated Shipping Services by 638.6% during the 2nd quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock worth $53,148,000 after buying an additional 2,072,715 shares during the last quarter. American Century Companies Inc. increased its position in ZIM Integrated Shipping Services by 7.8% during the second quarter. American Century Companies Inc. now owns 1,759,141 shares of the company’s stock worth $39,000,000 after buying an additional 127,229 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in ZIM Integrated Shipping Services by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 860,456 shares of the company’s stock valued at $22,079,000 after buying an additional 36,692 shares during the last quarter. Finally, Encompass Capital Advisors LLC acquired a new stake in shares of ZIM Integrated Shipping Services in the second quarter valued at approximately $14,383,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

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.