ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up to $17.03

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped up before the market opened on Monday . The stock had previously closed at $17.03, but opened at $18.25. ZIM Integrated Shipping Services shares last traded at $18.15, with a volume of 395,004 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ZIM. Barclays raised their price objective on shares of ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 28th. Citigroup downgraded shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and raised their price target for the stock from $11.60 to $13.00 in a report on Thursday, June 6th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $20.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday, May 22nd. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, ZIM Integrated Shipping Services has an average rating of “Hold” and an average price target of $12.01.

ZIM Integrated Shipping Services Stock Up 8.7 %

The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.90 and a current ratio of 0.98. The firm has a market capitalization of $2.23 billion, a PE ratio of -0.86, a P/E/G ratio of 0.13 and a beta of 1.85. The business’s 50 day moving average price is $19.82 and its 200-day moving average price is $14.99.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Tuesday, May 21st. The company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.34). ZIM Integrated Shipping Services had a negative return on equity of 14.80% and a negative net margin of 47.59%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.53 billion. As a group, equities research analysts forecast that ZIM Integrated Shipping Services Ltd. will post 4.08 earnings per share for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 4th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend was Tuesday, June 4th. ZIM Integrated Shipping Services’s dividend payout ratio is currently -4.35%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its holdings in ZIM Integrated Shipping Services by 92.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,335 shares of the company’s stock worth $33,000 after buying an additional 1,601 shares in the last quarter. Blue Trust Inc. raised its stake in shares of ZIM Integrated Shipping Services by 604.3% in the fourth quarter. Blue Trust Inc. now owns 4,296 shares of the company’s stock valued at $45,000 after acquiring an additional 3,686 shares in the last quarter. Mather Group LLC. purchased a new position in ZIM Integrated Shipping Services in the second quarter valued at $96,000. Citigroup Inc. grew its stake in ZIM Integrated Shipping Services by 77.1% during the 3rd quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock worth $56,000 after purchasing an additional 2,352 shares in the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in ZIM Integrated Shipping Services during the 4th quarter worth about $58,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

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.