ZIM Integrated Shipping Services (NYSE:ZIM) Sees Strong Trading Volume on Earnings Beat

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) saw strong trading volume on Wednesday following a stronger than expected earnings report. 4,200,885 shares were traded during trading, a decline of 23% from the previous session’s volume of 5,489,504 shares.The stock last traded at $18.89 and had previously closed at $20.31.

The company reported $4.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $1.19. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $1.99 billion. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th will be given a dividend of $3.17 per share. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. The ex-dividend date of this dividend is Monday, March 24th. This represents a $12.68 dividend on an annualized basis and a yield of 70.42%. ZIM Integrated Shipping Services’s payout ratio is 9.72%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Fearnley Fonds lowered ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. dropped their price objective on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a report on Friday, March 7th. Clarkson Capital upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Jefferies Financial Group reissued a “hold” rating and set a $18.00 target price on shares of ZIM Integrated Shipping Services in a research note on Wednesday. Finally, Barclays reduced their price target on shares of ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ZIM Integrated Shipping Services currently has an average rating of “Hold” and an average target price of $14.04.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd raised its holdings in ZIM Integrated Shipping Services by 650.0% in the fourth quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company’s stock worth $32,000 after purchasing an additional 1,300 shares in the last quarter. Employees Retirement System of Texas purchased a new position in shares of ZIM Integrated Shipping Services in the 4th quarter worth approximately $45,000. Sunbelt Securities Inc. bought a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter worth approximately $71,000. Brown Brothers Harriman & Co. purchased a new stake in ZIM Integrated Shipping Services during the fourth quarter valued at approximately $79,000. Finally, Mark Sheptoff Financial Planning LLC boosted its stake in ZIM Integrated Shipping Services by 126.7% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 3,400 shares of the company’s stock valued at $87,000 after acquiring an additional 1,900 shares in the last quarter. 21.42% of the stock is owned by institutional investors.

ZIM Integrated Shipping Services Stock Down 7.1 %

The company’s fifty day simple moving average is $19.18 and its 200-day simple moving average is $20.59. The firm has a market capitalization of $2.17 billion, a PE ratio of 1.51, a price-to-earnings-growth ratio of 0.27 and a beta of 1.70. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26.

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.