JPMorgan Chase & Co. Has Lowered Expectations for ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price

ZIM Integrated Shipping Services (NYSE:ZIM) had its price target cut by analysts at JPMorgan Chase & Co. from $9.70 to $8.70 in a research report issued on Monday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 55.68% from the company’s current price.

Several other equities analysts also recently issued reports on ZIM. Barclays decreased their price objective on shares of ZIM Integrated Shipping Services from $14.80 to $13.30 and set an “underweight” rating for the company in a research note on Thursday, August 28th. Citigroup reissued a “sell” rating on shares of ZIM Integrated Shipping Services in a report on Monday, August 11th. Weiss Ratings reissued a “hold (c)” rating on shares of ZIM Integrated Shipping Services in a research report on Wednesday, October 8th. UBS Group set a $9.70 price target on ZIM Integrated Shipping Services in a research report on Monday, November 24th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $15.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Thursday, November 20th. Three research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Strong Sell” and an average price target of $13.25.

ZIM Integrated Shipping Services Stock Up 1.7%

ZIM stock opened at $19.63 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. ZIM Integrated Shipping Services has a twelve month low of $11.03 and a twelve month high of $23.61. The company’s 50 day moving average is $15.18 and its two-hundred day moving average is $15.66. The stock has a market cap of $2.36 billion, a P/E ratio of 2.36 and a beta of 1.70.

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

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake 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 during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of ZIM Integrated Shipping Services by 134.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 4,368,287 shares of the company’s stock worth $70,286,000 after acquiring an additional 2,508,432 shares during the period. American Century Companies Inc. raised its holdings in ZIM Integrated Shipping Services by 13.5% during the third quarter. American Century Companies Inc. now owns 2,986,637 shares of the company’s stock worth $40,469,000 after purchasing an additional 354,538 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. raised its holdings in ZIM Integrated Shipping Services by 96.7% during the third quarter. Yelin Lapidot Holdings Management Ltd. now owns 2,422,986 shares of the company’s stock worth $32,831,000 after purchasing an additional 1,191,480 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in ZIM Integrated Shipping Services by 10.8% in the second quarter. Allianz Asset Management GmbH now owns 1,546,383 shares of the company’s stock valued at $24,881,000 after purchasing an additional 150,841 shares during the period. 21.42% of the stock is owned by institutional investors and hedge funds.

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.