ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Receives Average Rating of “Hold” from Brokerages

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) has earned an average rating of “Hold” from the seven brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $17.8333.

ZIM has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a report on Friday, June 5th. Barclays lifted their price objective on ZIM Integrated Shipping Services from $13.70 to $15.80 and gave the company an “underweight” rating in a report on Monday, March 16th.

ZIM Integrated Shipping Services Stock Down 0.8%

ZIM stock opened at $25.59 on Friday. ZIM Integrated Shipping Services has a twelve month low of $12.33 and a twelve month high of $29.97. The company has a market cap of $3.08 billion, a PE ratio of 31.59 and a beta of 1.20. The business’s 50-day simple moving average is $25.63 and its 200 day simple moving average is $24.62. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.14.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its earnings results on Thursday, May 21st. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.50). The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.48 billion. ZIM Integrated Shipping Services had a negative return on equity of 0.26% and a net margin of 1.56%. On average, research analysts anticipate that ZIM Integrated Shipping Services will post -7.24 earnings per share for the current year.

Insiders Place Their Bets

In other ZIM Integrated Shipping Services news, EVP Saar Dotan sold 11,000 shares of ZIM Integrated Shipping Services stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $26.11, for a total transaction of $287,210.00. Following the sale, the executive vice president directly owned 90,667 shares of the company’s stock, valued at approximately $2,367,315.37. The trade was a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 61,000 shares of company stock worth $1,537,310 over the last 90 days. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in shares of ZIM Integrated Shipping Services by 8.2% in the 1st quarter. Royal Bank of Canada now owns 40,827 shares of the company’s stock worth $596,000 after acquiring an additional 3,102 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of ZIM Integrated Shipping Services in the 1st quarter worth approximately $210,000. Goldman Sachs Group Inc. boosted its holdings in shares of ZIM Integrated Shipping Services by 20.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock worth $68,879,000 after acquiring an additional 788,514 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of ZIM Integrated Shipping Services by 5.6% in the 2nd quarter. Geode Capital Management LLC now owns 119,218 shares of the company’s stock worth $1,915,000 after acquiring an additional 6,342 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of ZIM Integrated Shipping Services by 505.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 76,738 shares of the company’s stock worth $1,236,000 after acquiring an additional 64,057 shares in the last quarter. 21.42% of the stock is owned by institutional investors and hedge funds.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.