Bank of Montreal has sold 151,235 shares of ZIM Integrated Shipping Services Ltd. (ZIM:NYE) during the fourth quarter, reducing its stake in the company by 85.5%, according to a recent filing with the Securities and Exchange Commission (SEC). The institutional investor now owns 25,670 shares of ZIM stock, worth $441,000.
Other institutional investors, including CWM LLC, Janney Montgomery Scott LLC, Kestra Advisory Services LLC, AE Wealth Management LLC, and IFG Advisory LLC, have also adjusted their positions in ZIM Integrated Shipping Services, owning a combined 36.74% of the ZIM stock.
ZIM Stock Price Analysis:
On Wednesday, ZIM opened at $16.78, down 0.7% from the previous trading day. The company has a market capitalization of $2.02 billion, a PE ratio of 0.44, and a beta of 2.12.
Its 50-day and 200-day moving averages are $21.19 and $20.94, respectively. ZIM Integrated Shipping Services has a 52-week low of $16.23 and a 52-week high of $71.40, with a current ratio of 1.60 and a quick ratio of 1.53. Its debt-to-equity ratio is 0.49.
According to Stock Target Advisor, ZIM stock has a consensus rating of “Hold” and a consensus target price of $22.28.
Quarterly Earnings Review:
ZIM Integrated Shipping Services reported $3.44 earnings per share for the quarter ending March 13th, beating the consensus estimate of $2.26 by $1.18. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.06 billion.
The company’s return on equity was 87.07%, and it had a net margin of 36.77%. The company paid a quarterly dividend of $6.40 per share on April 3rd, up from its previous quarterly dividend of $2.95, resulting in an annualized dividend of $25.60 and a dividend yield of 152.56%. ZIM Integrated Shipping Services has a payout ratio of 66.74%.
ZIM Stock-Analyst Ratings:
Several analysts have recently issued reports on ZIM, with JPMorgan Chase & Co. downgrading ZIM stock from “overweight” to “neutral” and lowering its target price from $27.00 to $20.80.
Jefferies Financial Group has a “hold” rating and a $20.00 price target on the stock. Barclays has downgraded the stock from “equal weight” to “underweight” and lowered its price target from $26.50 to $15.00.