Analysts Set ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Target Price at $15.04

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) has been assigned an average rating of “Reduce” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $15.04.

ZIM has been the topic of a number of research reports. Barclays decreased their price objective on ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Jefferies Financial Group decreased their price target on ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating on the stock in a research note on Tuesday, December 17th. Finally, Fearnley Fonds cut ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several hedge funds have recently made changes to their positions in ZIM. Renaissance Technologies LLC increased its stake in shares of 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 valued at $58,429,000 after buying an additional 2,181,000 shares during the period. Marshall Wace LLP increased 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 buying an additional 2,072,715 shares during the period. JPMorgan Chase & Co. increased its stake in shares of ZIM Integrated Shipping Services by 59.4% during the third quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock valued at $46,482,000 after buying an additional 674,723 shares during the period. Encompass Capital Advisors LLC purchased a new position in shares of ZIM Integrated Shipping Services during the second quarter valued at approximately $14,383,000. Finally, International Assets Investment Management LLC boosted its position in shares of ZIM Integrated Shipping Services by 2,228.7% during the third quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock valued at $10,337,000 after purchasing an additional 385,562 shares in the last quarter. 21.42% of the stock is owned by hedge funds and other institutional investors.

ZIM Integrated Shipping Services Stock Performance

Shares of NYSE ZIM opened at $16.72 on Friday. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 1.40, a P/E/G ratio of 0.22 and a beta of 1.77. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. ZIM Integrated Shipping Services has a 1-year low of $9.08 and a 1-year high of $30.15. The stock’s 50-day moving average is $21.60 and its 200 day moving average is $20.70.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were paid a dividend of $2.81 per share. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 annualized dividend and a dividend yield of 67.24%. ZIM Integrated Shipping Services’s payout ratio is 9.72%.

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.