ZIM Integrated Shipping Services Ltd. [NYSE: ZIM] price plunged by -6.14 percent to reach at -$2.85. The company report on June 1, 2021 that ZIM Announces Launch Of Secondary Offering Of Ordinary Shares.
ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) (the “Company”), a global container liner shipping company with over 75 years of experience, announced the launch of a secondary offering of 6,730,583 ordinary shares to be sold by certain selling shareholders of the Company (the “Selling Shareholders”). The underwriters have a 30-day option period to purchase up to 1,009,587 additional ordinary shares from the Selling Shareholders at the public offering price, less underwriting discounts and commissions. The Company will not receive any proceeds from this offering.
Citigroup, Goldman Sachs & Co., LLC., and Barclays are acting as global coordinators and Jefferies and Clarksons Platou Securities are acting as joint bookrunners for the offering.
A sum of 2067022 shares traded at recent session while its average daily volume was at 1.12M shares. ZIM Integrated Shipping Services Ltd. shares reached a high of $44.38 and dropped to a low of $43.20 until finishing in the latest session at $43.55.
The one-year ZIM stock forecast points to a potential downside of -6.48. The average equity rating for ZIM stock is currently 2.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on ZIM Integrated Shipping Services Ltd. [ZIM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ZIM shares is $40.90 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ZIM stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for ZIM Integrated Shipping Services Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 23, 2021. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on February 22, 2021, representing the official price target for ZIM Integrated Shipping Services Ltd. stock.
The Average True Range (ATR) for ZIM Integrated Shipping Services Ltd. is set at 3.58, with the Price to Sales ratio for ZIM stock in the period of the last 12 months amounting to 1.22. The Price to Book ratio for the last quarter was 4.53, with the Price to Cash per share for the same quarter was set at 11.22.
ZIM Stock Performance Analysis:
ZIM Integrated Shipping Services Ltd. [ZIM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.37.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ZIM stock in for the last two-week period is set at 59.14, with the RSI for the last a single of trading hit 56.89, and the three-weeks RSI is set at 60.57 for ZIM Integrated Shipping Services Ltd. [ZIM]. The present Moving Average for the last 50 days of trading for this stock 34.03, while it was recorded at 43.47 for the last single week of trading.
Insight into ZIM Integrated Shipping Services Ltd. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and ZIM Integrated Shipping Services Ltd. [ZIM] shares currently have an operating margin of +17.50 and a Gross Margin at +21.11. ZIM Integrated Shipping Services Ltd.’s Net Margin is presently recorded at +12.98.
Return on Total Capital for ZIM is now 41.17, given the latest momentum, and Return on Invested Capital for the company is 41.03. Return on Equity for this stock inclined to 10,794.23, with Return on Assets sitting at 21.81. When it comes to the capital structure of this company, ZIM Integrated Shipping Services Ltd. [ZIM] has a Total Debt to Total Equity ratio set at 685.48. Additionally, ZIM Total Debt to Total Capital is recorded at 87.27, with Total Debt to Total Assets ending up at 64.87. Long-Term Debt to Equity for the company is recorded at 498.12, with the Long-Term Debt to Total Capital now at 63.42.
Receivables Turnover for the company is 10.22 with a Total Asset Turnover recorded at a value of 1.68.ZIM Integrated Shipping Services Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.40.
ZIM Integrated Shipping Services Ltd. [ZIM] Insider Position Details
There are presently around $1,238 million, or 23.40% of ZIM stock, in the hands of institutional investors. The top three institutional holders of ZIM stocks are: KING STREET CAPITAL MANAGEMENT, L.P. with ownership of 5,016,530, which is approximately New of the company’s market cap and around 50.36% of the total institutional ownership; CLAL INSURANCE ENTERPRISES HOLDINGS LTD, holding 4,470,917 shares of the stock with an approximate value of $194.71 million in ZIM stocks shares; and HAREL INSURANCE INVESTMENTS & FINANCIAL SERVICES LTD., currently with $140.76 million in ZIM stock with ownership of nearly New of the company’s market capitalization.
Positions in ZIM Integrated Shipping Services Ltd. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 50 institutional holders increased their position in ZIM Integrated Shipping Services Ltd. [NYSE:ZIM] by around 28,428,839 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 28,428,839 shares, according to the latest SEC report filing. ZIM stock had 50 new institutional investments in for a total of 28,428,839 shares, while 0 institutional investors sold positions of 0 shares during the same period.