Menora Mivtachim Insurance Ltd. recently announced the acquisition of new stake in Zim Integrated Shipping Services Ltd (NYSE:ZIM). The institutional investor has increased its shareholding in the Industrials company by 35.87% to 2.69 million shares with purchase of 0.71 million shares. This fresh investment now brings its stake to 2.24% valued currently at $28.12 million. In addition, BlackRock Fund Advisors raised its holdings by 0.24 million to 2.05 million shares. And Citadel Securities LLC has lifted its position by 528.19% or 1.39 million shares – to 1.65 million shares.
With over 4.96 million Zim Integrated Shipping Services Ltd (ZIM) shares trading Tuesday and a closing price of $7.80 on the day, the dollar volume was approximately $38.72 million. The shares have shown a negative half year performance of -53.96% and its price on 11/14/23 gained nearly 9.40%. Currently, there are 120.15M common shares owned by the public and among those 95.33M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for ZIM have a consensus price objective of $11.54. The analysts have set the share’s price value over the next 12 months at a high of $14.50 and a low of $8.70. The average price target is 32.41% above its recent price level and an upside to the estimated low will see the stock gain 10.34% over that period. But an upside of 46.21% will see the stock hit the forecast high price target while median target price for the stock is $11.00.
The top 3 mutual fund holders in Zim Integrated Shipping Services Ltd are Mackenzie Global Equity Income Fu, Government Pension Fund – Global, and Avantis International Small Cap V. Mackenzie Global Equity Income Fu owns 1.27 million shares of the company’s stock, all valued at over $13.32 million. Government Pension Fund – Global bought 0.4 million shares to see its total holdings expand to 0.74 million shares valued at over $7.77 million and representing 0.62% of the shares outstanding. Avantis International Small Cap V now owns shares totaling to 0.62% of the shares outstanding.
Shares of Zim Integrated Shipping Services Ltd (NYSE: ZIM) opened at $7.29, up $0.16 from a prior closing price of $7.13. However, the script later moved the day high at 7.88, up 9.40%. The company’s stock has a 5-day price change of 3.31% and -35.32% over the past three months. ZIM shares are trading -54.62% year to date (YTD), with the 12-month market performance down to -71.20% lower. It has a 12-month low price of $7.03 and touched a high of $29.38 over the same period. ZIM has an average intraday trading volume of 2.43 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.73%, -18.78%, and -48.83% respectively.
Institutional ownership of Zim Integrated Shipping Services Ltd (NYSE: ZIM) shares accounts for 19.03% of the company’s 120.15M shares outstanding. Mutual fund holders own 12.00%, while other institutional holders and individual stakeholders account for 6.96% and — respectively.
It has a market capitalization of $937.40M and a beta (3y monthly) value of 1.93. The stock’s trailing 12-month PE ratio is 0.72, while the earnings-per-share (ttm) stands at $10.81. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.02% over the week and 4.81% over the month.
Analysts forecast that Zim Integrated Shipping Services Ltd (ZIM) will achieve an EPS of -$1.3 for the current quarter, -$1.42 for the next quarter and -$6.49 for 2024. The lowest estimate earnings-per-share for the quarter is -$1.83 while analysts give the company a high EPS estimate of -$0.58. Comparatively, EPS for the current quarter was $9.66 a year ago. Earnings per share for the fiscal year are expected to decrease by -115.65%, and -29.62% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Zim Integrated Shipping Services Ltd (ZIM) as a “Hold” at a consensus score of 3.20. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 2 of the 5 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the ZIM, a number of firms have released research notes about the stock. JP Morgan stated their Overweight rating for the stock in a research note on September 18, 2023, with the firm’s price target at $15.40.
