ZIM Integrated Shipping Services (NYSE:ZIM) Announces Quarterly Earnings Results

ZIM Integrated Shipping Services (NYSE:ZIM) released its quarterly earnings data on Wednesday. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($1.31), Zacks reports. ZIM Integrated Shipping Services had a return on equity of 63.46% and a net margin of 26.52%.The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.84 billion.

ZIM Integrated Shipping Services Trading Down 1.1%

ZIM opened at $15.3780 on Thursday. The stock has a market cap of $1.85 billion, a PE ratio of 0.79, a PEG ratio of 0.21 and a beta of 1.75. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 1.16. The business has a 50 day moving average of $16.24 and a 200-day moving average of $16.71. ZIM Integrated Shipping Services has a 52 week low of $11.03 and a 52 week high of $30.15.

ZIM Integrated Shipping Services Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, September 2nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.6%. ZIM Integrated Shipping Services’s payout ratio is presently 4.76%.

Analyst Ratings Changes

ZIM has been the subject of several research analyst reports. Clarkson Capital cut ZIM Integrated Shipping Services from a “buy” rating to a “neutral” rating and set a $20.00 price objective for the company. in a report on Tuesday, May 20th. Barclays increased their price objective on ZIM Integrated Shipping Services from $14.20 to $14.80 and gave the stock an “underweight” rating in a report on Friday, June 27th. Citigroup reiterated a “sell” rating on shares of ZIM Integrated Shipping Services in a report on Monday, August 11th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $17.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday. Two investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Strong Sell” and a consensus price target of $14.82.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its stake in ZIM Integrated Shipping Services by 29,305.7% during the second quarter. BNP Paribas Financial Markets now owns 1,310,614 shares of the company’s stock valued at $21,088,000 after buying an additional 1,306,157 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in ZIM Integrated Shipping Services during the second quarter valued at $742,000. California State Teachers Retirement System raised its stake in ZIM Integrated Shipping Services by 2.7% during the second quarter. California State Teachers Retirement System now owns 124,419 shares of the company’s stock valued at $2,002,000 after buying an additional 3,295 shares during the last quarter. Raymond James Financial Inc. raised its stake in ZIM Integrated Shipping Services by 18.8% during the second quarter. Raymond James Financial Inc. now owns 100,969 shares of the company’s stock valued at $1,625,000 after buying an additional 15,982 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new position in ZIM Integrated Shipping Services during the second quarter valued at $439,000. Hedge funds and other institutional investors 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.