ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up After Analyst Upgrade

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped up prior to trading on Thursday after Bank of America raised their price target on the stock from $12.20 to $13.70. The stock had previously closed at $18.28, but opened at $18.83. Bank of America currently has an underperform rating on the stock. ZIM Integrated Shipping Services shares last traded at $18.54, with a volume of 1,817,058 shares.

Other equities analysts also recently issued reports about the company. Barclays boosted their price objective on ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. Jefferies Financial Group restated a “buy” rating and set a $22.00 price target on shares of ZIM Integrated Shipping Services in a report on Monday, August 19th. Finally, Citigroup downgraded shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and upped their price target for the company from $11.60 to $13.00 in a report on Thursday, June 6th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.59.

Institutional Trading of ZIM Integrated Shipping Services

Institutional investors and hedge funds have recently modified their holdings of the stock. Allianz Asset Management GmbH raised its position in ZIM Integrated Shipping Services by 1,446.0% during the 4th quarter. Allianz Asset Management GmbH now owns 161,552 shares of the company’s stock valued at $1,595,000 after purchasing an additional 151,102 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of ZIM Integrated Shipping Services during the fourth quarter valued at approximately $127,000. Seven Eight Capital LP raised its stake in ZIM Integrated Shipping Services by 166.1% in the fourth quarter. Seven Eight Capital LP now owns 83,745 shares of the company’s stock worth $827,000 after buying an additional 52,270 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in ZIM Integrated Shipping Services by 81.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 89,560 shares of the company’s stock valued at $956,000 after acquiring an additional 40,326 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of ZIM Integrated Shipping Services in the 4th quarter worth $130,000. Institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Trading Down 3.1 %

The firm has a market capitalization of $2.24 billion, a PE ratio of -0.88, a price-to-earnings-growth ratio of 0.07 and a beta of 1.85. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.41. The company’s 50-day simple moving average is $19.57 and its 200 day simple moving average is $15.98.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings data on Monday, August 19th. The company reported $3.08 EPS for the quarter, beating the consensus estimate of $2.07 by $1.01. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the business posted ($1.37) EPS. As a group, sell-side analysts expect that ZIM Integrated Shipping Services Ltd. will post 7.97 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 29th will be paid a dividend of $0.93 per share. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, August 29th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 19.99%. ZIM Integrated Shipping Services’s payout ratio is presently -4.35%.

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.