JPMorgan Chase & Co. Cuts ZIM Integrated Shipping Services (NYSE:ZIM) Price Target to $8.70

ZIM Integrated Shipping Services (NYSE:ZIM) had its price objective trimmed by JPMorgan Chase & Co. from $9.70 to $8.70 in a research report released on Monday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

ZIM has been the subject of a number of other reports. UBS Group set a $9.70 price target on shares of ZIM Integrated Shipping Services in a report on Monday, November 24th. Citigroup reissued a “sell” rating on shares of ZIM Integrated Shipping Services in a report on Monday, August 11th. Wall Street Zen upgraded ZIM Integrated Shipping Services from a “sell” rating to a “hold” rating in a report on Friday, November 28th. Barclays dropped their price target on shares of ZIM Integrated Shipping Services from $14.80 to $13.30 and set an “underweight” rating on the stock in a research note on Thursday, August 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ZIM Integrated Shipping Services in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Strong Sell” and an average target price of $13.25.

ZIM Integrated Shipping Services Trading Up 1.4%

NYSE:ZIM opened at $19.88 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $2.39 billion, a PE ratio of 2.39 and a beta of 1.70. ZIM Integrated Shipping Services has a 12 month low of $11.03 and a 12 month high of $23.61. The firm’s 50 day moving average is $15.29 and its 200 day moving average is $15.69.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings data on Thursday, November 20th. The company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.65). The company had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.74 billion. ZIM Integrated Shipping Services had a return on equity of 25.18% and a net margin of 13.22%. Sell-side analysts expect that ZIM Integrated Shipping Services will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, December 1st will be paid a $0.31 dividend. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, December 1st. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.2%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is 2.88%.

Institutional Trading of ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZIM. Legacy Investment Solutions LLC bought a new position in shares of ZIM Integrated Shipping Services in the second quarter worth about $26,000. Quarry LP bought a new position in shares of ZIM Integrated Shipping Services during the third quarter worth $34,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of ZIM Integrated Shipping Services during the second quarter valued at about $37,000. Larson Financial Group LLC increased its position in ZIM Integrated Shipping Services by 158.8% in the third quarter. Larson Financial Group LLC now owns 3,256 shares of the company’s stock worth $44,000 after purchasing an additional 1,998 shares during the last quarter. Finally, Triumph Capital Management purchased a new stake in shares of ZIM Integrated Shipping Services during the 3rd quarter valued at about $44,000. 21.42% of the stock is owned by hedge funds and other institutional investors.

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.