Stock Traders Buy High Volume of ZIM Integrated Shipping Services Call Options (NYSE:ZIM)

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) saw unusually large options trading on Monday. Investors acquired 34,600 call options on the stock. This is an increase of 8% compared to the typical daily volume of 31,957 call options.

ZIM Integrated Shipping Services Stock Up 8.0 %

ZIM Integrated Shipping Services stock opened at $24.70 on Tuesday. The stock has a market cap of $2.97 billion, a PE ratio of -1.52, a P/E/G ratio of 0.04 and a beta of 1.86. ZIM Integrated Shipping Services has a 1-year low of $6.39 and a 1-year high of $26.20. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.04 and a quick ratio of 0.97. The stock’s fifty day moving average is $20.20 and its two-hundred day moving average is $18.43.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Monday, August 19th. The company reported $3.08 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $1.01. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.71 billion. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. During the same period in the prior year, the company earned ($1.37) earnings per share. On average, sell-side analysts expect that ZIM Integrated Shipping Services will post 11.22 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were issued a $0.93 dividend. The ex-dividend date was Thursday, August 29th. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. This represents a $3.72 dividend on an annualized basis and a yield of 15.06%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is -5.64%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC raised its position in ZIM Integrated Shipping Services by 479.9% during the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock worth $58,429,000 after acquiring an additional 2,181,000 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of ZIM Integrated Shipping Services by 638.6% during the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock valued at $53,148,000 after acquiring an additional 2,072,715 shares during the last quarter. Encompass Capital Advisors LLC acquired a new position in ZIM Integrated Shipping Services in the 2nd quarter valued at about $14,383,000. Millennium Management LLC lifted its holdings in ZIM Integrated Shipping Services by 306.7% in the 2nd quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock valued at $9,440,000 after purchasing an additional 321,100 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of ZIM Integrated Shipping Services by 1,226.7% during the 3rd quarter. SG Americas Securities LLC now owns 343,581 shares of the company’s stock worth $8,816,000 after purchasing an additional 317,684 shares during the last quarter. Institutional investors and hedge funds own 21.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Jefferies Financial Group downgraded ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research note on Wednesday, October 2nd. Bank of America raised their price objective on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Finally, Barclays lifted their price target on shares of 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. Four equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $15.44.

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.