Fearnley Fonds Downgrades ZIM Integrated Shipping Services (NYSE:ZIM) to Strong Sell

Fearnley Fonds cut shares of ZIM Integrated Shipping Services (NYSE:ZIM) from a hold rating to a strong sell rating in a research report released on Thursday morning,Zacks.com reports.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Barclays increased their target price on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group restated a “hold” rating and issued a $25.00 price target on shares of ZIM Integrated Shipping Services in a research note on Wednesday, November 20th. Finally, Bank of America increased their price objective on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Five equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $15.22.

ZIM Integrated Shipping Services Trading Down 1.9 %

Shares of ZIM opened at $23.78 on Thursday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 0.97. ZIM Integrated Shipping Services has a 12 month low of $6.39 and a 12 month high of $30.15. The stock has a market cap of $2.86 billion, a PE ratio of 1.99, a P/E/G ratio of 0.04 and a beta of 1.88. The stock’s 50-day moving average is $22.78 and its two-hundred day moving average is $20.56.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be given a dividend of $2.81 per share. This represents a $11.24 dividend on an annualized basis and a dividend yield of 47.27%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date is Monday, December 2nd. ZIM Integrated Shipping Services’s dividend payout ratio is presently 9.72%.

Institutional Trading of ZIM Integrated Shipping Services

A number of large investors have recently modified their holdings of ZIM. Fairman Group LLC bought a new position in ZIM Integrated Shipping Services in the 3rd quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of ZIM Integrated Shipping Services in the third quarter worth $31,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of ZIM Integrated Shipping Services by 2,341.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock valued at $43,000 after purchasing an additional 1,850 shares during the period. Russell Investments Group Ltd. raised its stake in shares of ZIM Integrated Shipping Services by 1,431.1% during the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock valued at $61,000 after purchasing an additional 5,667 shares in the last quarter. Finally, American Capital Advisory LLC acquired a new stake in ZIM Integrated Shipping Services in the third quarter worth about $69,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

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.