ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Up 2.7%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price rose 2.7% during trading on Thursday . The stock traded as high as $20.00 and last traded at $19.64. Approximately 1,051,767 shares traded hands during trading, a decline of 82% from the average daily volume of 6,009,238 shares. The stock had previously closed at $19.12.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Bank of America raised their price target on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Barclays raised their price target on shares of ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Citigroup lowered 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 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. Four investment analysts have rated the stock with a sell rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $14.84.

ZIM Integrated Shipping Services Stock Up 6.8 %

The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.41. The stock’s 50-day moving average is $18.61 and its 200-day moving average is $16.54. The company has a market cap of $2.46 billion, a price-to-earnings ratio of -0.93, a P/E/G ratio of 0.04 and a beta of 1.83.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its earnings results on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $1.01. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the company earned ($1.37) EPS. On average, analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 10.87 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were issued a dividend of $0.93 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $3.72 annualized dividend and a yield of 18.22%. ZIM Integrated Shipping Services’s dividend payout ratio is presently -4.35%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Olympiad Research LP raised its holdings in ZIM Integrated Shipping Services by 2.8% during the fourth quarter. Olympiad Research LP now owns 49,236 shares of the company’s stock worth $486,000 after buying an additional 1,364 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in ZIM Integrated Shipping Services by 2,341.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock worth $43,000 after buying an additional 1,850 shares during the last quarter. California State Teachers Retirement System raised its holdings in ZIM Integrated Shipping Services by 2.4% during the first quarter. California State Teachers Retirement System now owns 104,767 shares of the company’s stock worth $1,060,000 after buying an additional 2,423 shares during the last quarter. Van ECK Associates Corp raised its holdings in ZIM Integrated Shipping Services by 9.6% during the second quarter. Van ECK Associates Corp now owns 37,488 shares of the company’s stock worth $831,000 after buying an additional 3,296 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in ZIM Integrated Shipping Services by 39.3% during the second quarter. Rhumbline Advisers now owns 11,732 shares of the company’s stock worth $260,000 after buying an additional 3,311 shares during 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.