JPMorgan Chase & Co. Cuts ZIM Integrated Shipping Services (NYSE:ZIM) Price Target to $9.70

ZIM Integrated Shipping Services (NYSE:ZIM) had its price objective lowered by JPMorgan Chase & Co. from $10.00 to $9.70 in a research report released on Monday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other research analysts also recently commented on ZIM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ZIM Integrated Shipping Services in a research report on Wednesday, October 8th. UBS Group set a $9.70 price objective on shares of ZIM Integrated Shipping Services in a research note on Monday. Jefferies Financial Group reaffirmed a “hold” rating and set a $15.00 price objective on shares of ZIM Integrated Shipping Services in a report on Thursday, November 20th. Wall Street Zen downgraded ZIM Integrated Shipping Services from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. Finally, Citigroup reissued a “sell” rating on shares of ZIM Integrated Shipping Services in a research report on Monday, August 11th. Three research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ZIM Integrated Shipping Services presently has a consensus rating of “Strong Sell” and an average target price of $13.42.

ZIM Integrated Shipping Services Price Performance

Shares of NYSE ZIM opened at $19.70 on Monday. The stock’s 50-day simple moving average is $14.77 and its 200-day simple moving average is $15.61. The firm has a market capitalization of $2.37 billion, a PE ratio of 2.37 and a beta of 1.73. ZIM Integrated Shipping Services has a fifty-two week low of $11.03 and a fifty-two week high of $23.61. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.22 and a current ratio of 1.30.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings results on Thursday, November 20th. The company reported $1.02 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.65). ZIM Integrated Shipping Services had a net margin of 13.22% and a return on equity of 25.18%. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.74 billion. As a group, equities research analysts forecast that ZIM Integrated Shipping Services will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 6.3%. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, December 1st. ZIM Integrated Shipping Services’s payout ratio is currently 2.88%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Institutional investors have recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new position in shares of ZIM Integrated Shipping Services in the 2nd quarter valued at approximately $26,000. New York State Common Retirement Fund acquired a new stake in shares of ZIM Integrated Shipping Services during the first quarter worth $30,000. Edmond DE Rothschild Holding S.A. purchased a new position in ZIM Integrated Shipping Services in the 2nd quarter valued at $37,000. Quarry LP purchased a new position in ZIM Integrated Shipping Services in the 3rd quarter valued at $34,000. Finally, Larson Financial Group LLC increased its stake in ZIM Integrated Shipping Services by 158.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,256 shares of the company’s stock valued at $44,000 after buying an additional 1,998 shares during the period. 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.