ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Short Interest Update

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 17,390,000 shares, an increase of 33.7% from the March 15th total of 13,010,000 shares. Based on an average daily volume of 6,730,000 shares, the short-interest ratio is presently 2.6 days. Currently, 14.6% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

ZIM has been the topic of several recent research reports. Barclays lowered their price objective on ZIM Integrated Shipping Services from $13.50 to $12.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. Jefferies Financial Group reiterated a “hold” rating and issued a $18.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday, March 12th. Bank of America decreased their target price on shares of ZIM Integrated Shipping Services from $16.00 to $12.80 and set an “underperform” rating on the stock in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. dropped their price target on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a research report on Friday, March 7th. Five analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ZIM Integrated Shipping Services has a consensus rating of “Hold” and an average price target of $13.06.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of ZIM Integrated Shipping Services by 59.4% in the third quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock valued at $46,482,000 after buying an additional 674,723 shares during the period. Raymond James Financial Inc. bought a new position in shares of ZIM Integrated Shipping Services during the fourth quarter valued at $1,771,000. Decker Retirement Planning Inc. acquired a new position in shares of ZIM Integrated Shipping Services during the fourth quarter worth $5,509,000. HighTower Advisors LLC increased its holdings in ZIM Integrated Shipping Services by 20.5% in the fourth quarter. HighTower Advisors LLC now owns 12,246 shares of the company’s stock valued at $263,000 after purchasing an additional 2,080 shares during the period. Finally, Truist Financial Corp raised its position in ZIM Integrated Shipping Services by 10.2% during the 4th quarter. Truist Financial Corp now owns 14,804 shares of the company’s stock worth $318,000 after purchasing an additional 1,376 shares during the last quarter. Institutional investors and hedge funds own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Stock Performance

NYSE:ZIM opened at $13.75 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $1.66 billion, a PE ratio of 1.15, a price-to-earnings-growth ratio of 0.27 and a beta of 1.84. ZIM Integrated Shipping Services has a twelve month low of $10.17 and a twelve month high of $30.15. The stock’s 50-day simple moving average is $17.27 and its 200 day simple moving average is $19.60.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Wednesday, March 12th. The company reported $4.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $1.19. ZIM Integrated Shipping Services had a net margin of 19.26% and a return on equity of 48.63%. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.99 billion. On average, analysts anticipate that ZIM Integrated Shipping Services will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Monday, March 24th were issued a dividend of $3.17 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. The ex-dividend date was Monday, March 24th. This represents a $12.68 annualized dividend and a dividend yield of 92.19%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is 6.51%.

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.