ZIM Integrated Shipping Services (NYSE:ZIM) Shares Down 7.4%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price was down 7.4% during trading on Thursday . The stock traded as low as $12.29 and last traded at $12.37. Approximately 2,103,981 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 6,409,083 shares. The stock had previously closed at $13.36.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ZIM. Bank of America dropped their price objective on shares of ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating on the stock in a research note on Tuesday, March 19th. Jefferies Financial Group reiterated a “buy” rating and issued a $20.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. dropped their target price on ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $10.51.

ZIM Integrated Shipping Services Stock Up 2.9 %

The company has a current ratio of 1.02, a quick ratio of 0.95 and a debt-to-equity ratio of 1.35. The stock has a 50-day moving average of $10.94 and a 200-day moving average of $10.49. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -0.57 and a beta of 1.64.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($1.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.33) by $0.10. ZIM Integrated Shipping Services had a negative return on equity of 16.29% and a negative net margin of 52.22%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.23 billion. As a group, sell-side analysts forecast that ZIM Integrated Shipping Services Ltd. will post -0.25 EPS for the current fiscal year.

Institutional Trading of ZIM Integrated Shipping Services

Several hedge funds and other institutional investors have recently modified their holdings of the business. Regatta Capital Group LLC increased its stake in ZIM Integrated Shipping Services by 8.5% in the 1st quarter. Regatta Capital Group LLC now owns 16,022 shares of the company’s stock valued at $162,000 after buying an additional 1,254 shares during the period. Olympiad Research LP boosted its position in ZIM Integrated Shipping Services by 2.8% during the fourth quarter. Olympiad Research LP now owns 49,236 shares of the company’s stock valued at $486,000 after purchasing an additional 1,364 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in ZIM Integrated Shipping Services by 92.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,335 shares of the company’s stock valued at $33,000 after purchasing an additional 1,601 shares in the last quarter. Van ECK Associates Corp increased its position in ZIM Integrated Shipping Services by 6.8% in the 3rd quarter. Van ECK Associates Corp now owns 33,686 shares of the company’s stock worth $352,000 after purchasing an additional 2,143 shares during the last quarter. Finally, Citigroup Inc. raised its stake in shares of ZIM Integrated Shipping Services by 77.1% during the 3rd quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock worth $56,000 after purchasing an additional 2,352 shares in the last quarter. 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.