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

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) dropped 7.4% during mid-day trading on Thursday . The stock traded as low as $12.29 and last traded at $12.37. Approximately 2,103,981 shares were traded 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 Ratings Changes

ZIM has been the topic of several research analyst reports. Bank of America cut their price objective on ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating on the stock in a report on Tuesday, March 19th. Jefferies Financial Group restated a “buy” rating and set a $20.00 price target on shares of ZIM Integrated Shipping Services in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. cut their price target on ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $10.51.

ZIM Integrated Shipping Services Trading Down 5.2 %

The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -0.56 and a beta of 1.64. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.95 and a current ratio of 1.02. The business has a 50-day moving average of $10.92 and a 200-day moving average of $10.45.

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

Institutional Trading of ZIM Integrated Shipping Services

A number of hedge funds have recently added to or reduced their stakes in ZIM. Tower Research Capital LLC TRC lifted its position in ZIM Integrated Shipping Services by 92.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,335 shares of the company’s stock worth $33,000 after acquiring an additional 1,601 shares during the period. Blue Trust Inc. lifted its position in ZIM Integrated Shipping Services by 604.3% during the 4th quarter. Blue Trust Inc. now owns 4,296 shares of the company’s stock worth $45,000 after acquiring an additional 3,686 shares during the period. Citigroup Inc. lifted its position in 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 acquiring an additional 2,352 shares during the period. Scarborough Advisors LLC acquired a new stake in ZIM Integrated Shipping Services during the 4th quarter worth approximately $58,000. Finally, Headlands Technologies LLC acquired a new stake in ZIM Integrated Shipping Services during the 4th quarter worth approximately $121,000. 21.42% of the stock is owned by institutional investors and hedge funds.

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.