ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up to $16.40

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $16.40, but opened at $16.84. ZIM Integrated Shipping Services shares last traded at $17.66, with a volume of 676,888 shares traded.

Analyst Ratings Changes

A number of brokerages have commented on ZIM. Citigroup cut ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $11.60 to $13.00 in a research note on Thursday, June 6th. Barclays lifted their price target on ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Jefferies Financial Group reissued a “buy” rating and set a $22.00 target price on shares of ZIM Integrated Shipping Services in a research note on Monday, August 19th. Bank of America boosted their target price on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $10.50 target price on shares of ZIM Integrated Shipping Services in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $14.84.

ZIM Integrated Shipping Services Stock Performance

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 company has a 50-day moving average of $18.70 and a two-hundred day moving average of $16.33.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its earnings results on Monday, August 19th. The company reported $3.08 EPS for the quarter, topping the consensus estimate of $2.07 by $1.01. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the company posted ($1.37) earnings per share. Research analysts predict that ZIM Integrated Shipping Services Ltd. will post 11.79 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. This represents a $3.72 annualized dividend and a yield of 19.97%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, August 29th. ZIM Integrated Shipping Services’s payout ratio is -4.35%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ZIM. Private Advisor Group LLC bought a new position in shares of ZIM Integrated Shipping Services during the fourth quarter valued at $127,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of ZIM Integrated Shipping Services by 82.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 512,103 shares of the company’s stock valued at $5,054,000 after purchasing an additional 231,955 shares in the last quarter. Jump Financial LLC purchased a new stake in ZIM Integrated Shipping Services during the fourth quarter valued at $130,000. Allianz Asset Management GmbH increased its position in ZIM Integrated Shipping Services by 1,446.0% during the fourth quarter. Allianz Asset Management GmbH now owns 161,552 shares of the company’s stock valued at $1,595,000 after acquiring an additional 151,102 shares during the last quarter. Finally, Olympiad Research LP increased its position in ZIM Integrated Shipping Services by 2.8% during the fourth quarter. Olympiad Research LP now owns 49,236 shares of the company’s stock valued at $486,000 after acquiring an additional 1,364 shares during the last quarter. 21.42% of the stock is owned by institutional investors.

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.