ZIM Integrated Shipping Services (NYSE:ZIM) Price Target Increased to $13.90 by Analysts at Barclays

ZIM Integrated Shipping Services (NYSE:ZIM) had its target price raised by Barclays from $12.30 to $13.90 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an underweight rating on the stock.

A number of other research analysts have also recently commented on ZIM. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $10.50 target price on shares of ZIM Integrated Shipping Services in a research note 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 price objective on the stock. in a research report on Wednesday, October 2nd. Finally, Bank of America increased their target price on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the company. According to data from MarketBeat, ZIM Integrated Shipping Services has a consensus rating of “Reduce” and a consensus price target of $15.22.

ZIM Integrated Shipping Services Price Performance

Shares of ZIM opened at $22.46 on Wednesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.04. The business has a fifty day moving average of $20.30 and a 200 day moving average of $18.52. ZIM Integrated Shipping Services has a 52-week low of $6.39 and a 52-week high of $26.20.

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, topping the consensus estimate of $2.07 by $1.01. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates 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 quarter last year, the business earned ($1.37) EPS. On average, research analysts predict that ZIM Integrated Shipping Services will post 11.22 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 29th were paid a $0.93 dividend. The ex-dividend date was Thursday, August 29th. This represents a $3.72 annualized dividend and a yield of 16.56%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. ZIM Integrated Shipping Services’s dividend payout ratio is -5.64%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of institutional investors and hedge funds have recently bought and sold shares of ZIM. Fairman Group LLC purchased a new position in shares of ZIM Integrated Shipping Services during the third quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of ZIM Integrated Shipping Services in the 3rd quarter valued at about $31,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of ZIM Integrated Shipping Services by 2,341.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock worth $43,000 after purchasing an additional 1,850 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of ZIM Integrated Shipping Services by 1,431.1% during the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock valued at $61,000 after purchasing an additional 5,667 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in ZIM Integrated Shipping Services during the second quarter valued at approximately $96,000. 21.42% of the stock is owned by institutional investors.

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.