ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – Time to Buy?

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped up before the market opened on Friday . The stock had previously closed at $15.39, but opened at $15.77. ZIM Integrated Shipping Services shares last traded at $15.64, with a volume of 1,779,972 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ZIM shares. JPMorgan Chase & Co. dropped their target price on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating on the stock in a research note on Friday, March 7th. Barclays lowered their price target on shares of ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating on the stock in a report on Monday, March 17th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $18.00 target price on shares of ZIM Integrated Shipping Services in a research report on Wednesday, March 12th. Five analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.54.

ZIM Integrated Shipping Services Stock Performance

The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 1.30, a PEG ratio of 0.27 and a beta of 1.70. The firm’s 50 day simple moving average is $18.67 and its 200 day simple moving average is $20.54. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Wednesday, March 12th. The company reported $4.66 EPS for the quarter, topping the consensus estimate of $3.47 by $1.19. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.99 billion. Sell-side analysts forecast that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th will be given a dividend of $3.17 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $12.68 dividend on an annualized basis and a yield of 81.83%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. ZIM Integrated Shipping Services’s dividend payout ratio is currently 6.51%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZIM. Charles Schwab Investment Management Inc. increased its position in shares of ZIM Integrated Shipping Services by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 860,456 shares of the company’s stock worth $22,079,000 after purchasing an additional 36,692 shares in the last quarter. Verition Fund Management LLC increased its holdings in shares of ZIM Integrated Shipping Services by 2,171.6% during the 3rd quarter. Verition Fund Management LLC now owns 208,057 shares of the company’s stock worth $5,339,000 after buying an additional 198,898 shares during the last quarter. PDT Partners LLC raised its position in ZIM Integrated Shipping Services by 48.7% in the third quarter. PDT Partners LLC now owns 255,292 shares of the company’s stock valued at $6,551,000 after purchasing an additional 83,625 shares during the period. Mark Sheptoff Financial Planning LLC lifted its position in ZIM Integrated Shipping Services by 126.7% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 3,400 shares of the company’s stock valued at $87,000 after buying an additional 1,900 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of ZIM Integrated Shipping Services in the 3rd quarter worth approximately $263,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Company Profile

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.