Short Interest in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Declines By 22.7%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) saw a large decrease in short interest in August. As of August 15th, there was short interest totaling 18,700,000 shares, a decrease of 22.7% from the July 31st total of 24,180,000 shares. Based on an average daily volume of 5,860,000 shares, the short-interest ratio is presently 3.2 days. Approximately 15.7% of the company’s shares are sold short. Approximately 15.7% of the company’s shares are sold short. Based on an average daily volume of 5,860,000 shares, the short-interest ratio is presently 3.2 days.

ZIM Integrated Shipping Services Stock Down 0.6%

ZIM stock opened at $13.30 on Wednesday. ZIM Integrated Shipping Services has a twelve month low of $11.03 and a twelve month high of $30.15. The company has a quick ratio of 1.11, a current ratio of 1.20 and a debt-to-equity ratio of 1.20. The stock’s 50 day moving average is $15.45 and its 200-day moving average is $16.15. The firm has a market capitalization of $1.60 billion, a PE ratio of 0.80, a P/E/G ratio of 0.15 and a beta of 1.74.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Wednesday, August 20th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($1.31). ZIM Integrated Shipping Services had a net margin of 23.37% and a return on equity of 50.61%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.84 billion. Sell-side analysts expect that ZIM Integrated Shipping Services will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, September 2nd were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Tuesday, September 2nd. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently 1.44%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Osaic Holdings Inc. lifted its holdings in shares of ZIM Integrated Shipping Services by 159.6% in the second quarter. Osaic Holdings Inc. now owns 48,235 shares of the company’s stock valued at $776,000 after purchasing an additional 29,654 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of ZIM Integrated Shipping Services during the second quarter valued at approximately $453,000. Marex Group plc purchased a new stake in shares of ZIM Integrated Shipping Services during the second quarter valued at approximately $415,000. Advisory Services Network LLC increased its position in shares of ZIM Integrated Shipping Services by 22.0% during the second quarter. Advisory Services Network LLC now owns 39,742 shares of the company’s stock valued at $630,000 after acquiring an additional 7,169 shares during the last quarter. Finally, State of Wyoming increased its position in shares of ZIM Integrated Shipping Services by 25.6% during the second quarter. State of Wyoming now owns 32,237 shares of the company’s stock valued at $519,000 after acquiring an additional 6,567 shares during the last quarter. Institutional investors own 21.42% of the company’s stock.

Wall Street Analysts Forecast Growth

ZIM has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on ZIM Integrated Shipping Services from $9.50 to $9.80 and gave the stock an “underweight” rating in a report on Friday, August 22nd. Wall Street Zen lowered ZIM Integrated Shipping Services from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. Citigroup reiterated a “sell” rating on shares of ZIM Integrated Shipping Services in a report on Monday, August 11th. Jefferies Financial Group reiterated a “hold” rating and issued a $17.00 price target on shares of ZIM Integrated Shipping Services in a report on Wednesday, August 20th. Finally, Barclays cut their price target on ZIM Integrated Shipping Services from $14.80 to $13.30 and set an “underweight” rating on the stock in a report on Thursday, August 28th. Two investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Strong Sell” and a consensus price target of $14.58.

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.