ZIM Integrated Shipping Services (NYSE:ZIM) Shares Up 5.5%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price traded up 5.5% on Thursday . The stock traded as high as $20.39 and last traded at $20.06. 1,739,864 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 6,592,016 shares. The stock had previously closed at $19.01.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Citigroup cut shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $11.60 to $13.00 in a research note on Thursday, June 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $20.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday, May 22nd. 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 note on Tuesday, May 28th. Finally, Bank of America dropped their price objective on shares of ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating on the stock in a research note on Tuesday, March 19th. Three equities 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.01.

ZIM Integrated Shipping Services Stock Down 2.5 %

The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -0.93, a PEG ratio of 0.33 and a beta of 1.88. The business’s 50 day moving average price is $16.93 and its 200 day moving average price is $13.28. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.90 and a current ratio of 0.98.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Tuesday, May 21st. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.34). ZIM Integrated Shipping Services had a negative net margin of 47.59% and a negative return on equity of 14.80%. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.53 billion. On average, equities analysts forecast that ZIM Integrated Shipping Services Ltd. will post 1.88 EPS for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, June 4th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.92 dividend on an annualized basis and a yield of 4.68%. ZIM Integrated Shipping Services’s dividend payout ratio is currently -4.35%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of institutional investors have recently added to or reduced their stakes in the stock. Regatta Capital Group LLC grew its stake in ZIM Integrated Shipping Services by 8.5% in the 1st quarter. Regatta Capital Group LLC now owns 16,022 shares of the company’s stock valued at $162,000 after acquiring an additional 1,254 shares during the period. Olympiad Research LP lifted its holdings in ZIM Integrated Shipping Services by 2.8% in the 4th quarter. Olympiad Research LP now owns 49,236 shares of the company’s stock valued at $486,000 after purchasing an additional 1,364 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in ZIM Integrated Shipping Services by 92.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,335 shares of the company’s stock valued at $33,000 after purchasing an additional 1,601 shares in the last quarter. Citigroup Inc. lifted its holdings in ZIM Integrated Shipping Services by 77.1% in the 3rd quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock valued at $56,000 after purchasing an additional 2,352 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in ZIM Integrated Shipping Services by 2.4% in the 1st quarter. California State Teachers Retirement System now owns 104,767 shares of the company’s stock valued at $1,060,000 after purchasing an additional 2,423 shares in the last quarter. Institutional investors and hedge funds 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.