ZIM Integrated Shipping Services (NYSE:ZIM) Earns Hold Rating from Jefferies Financial Group

Jefferies Financial Group reaffirmed their hold rating on shares of ZIM Integrated Shipping Services (NYSE:ZIM) in a research report report published on Wednesday,Benzinga reports. Jefferies Financial Group currently has a $25.00 price objective on the stock.

Several other brokerages also recently issued reports on ZIM. Bank of America raised their price objective on shares of 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. Barclays raised their price objective on shares of ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Five investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $15.22.

ZIM Integrated Shipping Services Price Performance

Shares of NYSE:ZIM opened at $23.78 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 1.11. ZIM Integrated Shipping Services has a 1 year low of $6.39 and a 1 year high of $30.15. The business has a fifty day simple moving average of $22.78 and a 200 day simple moving average of $20.52. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 1.99, a P/E/G ratio of 0.04 and a beta of 1.88.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be paid a $2.81 dividend. The ex-dividend date is Monday, December 2nd. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 annualized dividend and a dividend yield of 47.27%. ZIM Integrated Shipping Services’s dividend payout ratio is 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in ZIM Integrated Shipping Services during the third quarter worth about $893,000. Sunbelt Securities Inc. bought a new stake in ZIM Integrated Shipping Services during the third quarter worth about $71,000. Geode Capital Management LLC lifted its position in ZIM Integrated Shipping Services by 3.4% during the third quarter. Geode Capital Management LLC now owns 88,086 shares of the company’s stock worth $2,260,000 after purchasing an additional 2,873 shares during the period. Public Employees Retirement System of Ohio bought a new stake in ZIM Integrated Shipping Services during the third quarter worth about $3,364,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in ZIM Integrated Shipping Services during the third quarter worth about $2,612,000. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.