ZIM Integrated Shipping Services (NYSE:ZIM) Trading Up 8.5% After Analyst Upgrade

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price rose 8.5% during mid-day trading on Wednesday after Jefferies Financial Group raised their price target on the stock from $15.00 to $16.00. Jefferies Financial Group currently has a hold rating on the stock. ZIM Integrated Shipping Services traded as high as $18.91 and last traded at $18.56. Approximately 4,357,841 shares were traded during trading, a decline of 28% from the average daily volume of 6,088,467 shares. The stock had previously closed at $17.11.

A number of other equities analysts have also recently issued reports on the company. Barclays cut their price objective on ZIM Integrated Shipping Services from $13.50 to $12.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. cut their price objective on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a report on Friday, March 7th. Finally, Bank of America cut their price objective on ZIM Integrated Shipping Services from $16.00 to $12.80 and set an “underperform” rating for the company in a report on Friday, April 11th. Five analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.66.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in ZIM Integrated Shipping Services during the 4th quarter valued at about $1,771,000. Decker Retirement Planning Inc. bought a new stake in shares of ZIM Integrated Shipping Services in the 4th quarter worth approximately $5,509,000. HighTower Advisors LLC grew its position in shares of ZIM Integrated Shipping Services by 20.5% in the 4th quarter. HighTower Advisors LLC now owns 12,246 shares of the company’s stock worth $263,000 after buying an additional 2,080 shares during the last quarter. Truist Financial Corp grew its position in shares of ZIM Integrated Shipping Services by 10.2% in the 4th quarter. Truist Financial Corp now owns 14,804 shares of the company’s stock worth $318,000 after buying an additional 1,376 shares during the last quarter. Finally, Mariner LLC bought a new stake in shares of ZIM Integrated Shipping Services in the 4th quarter worth approximately $735,000. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

ZIM Integrated Shipping Services Trading Down 1.8%

The stock has a market capitalization of $2.16 billion, a P/E ratio of 1.50, a price-to-earnings-growth ratio of 0.27 and a beta of 1.84. The stock has a 50-day moving average price of $15.18 and a two-hundred day moving average price of $18.80. 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 released its earnings results on Wednesday, March 12th. The company reported $4.66 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $1.19. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.99 billion. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. On average, research analysts forecast that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th were paid a $3.17 dividend. This represents a $12.68 dividend on an annualized basis and a dividend yield of 70.64%. The ex-dividend date was Monday, March 24th. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently 6.51%.

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.