ZIM Integrated Shipping Services (NYSE:ZIM) Shares Up 4.4%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price shot up 4.4% during trading on Monday . The company traded as high as $20.73 and last traded at $20.52. 1,195,152 shares changed hands during trading, a decline of 82% from the average session volume of 6,553,189 shares. The stock had previously closed at $19.65.

Analyst Ratings Changes

A number of research firms recently commented on ZIM. Jefferies Financial Group reiterated a “buy” rating and set a $20.00 price objective on shares of ZIM Integrated Shipping Services in a research report on Wednesday, May 22nd. Barclays lifted their price target on ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the company an “underweight” rating in a report on Tuesday, May 28th. Citigroup cut ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and lifted their price target for the company from $11.60 to $13.00 in a report on Thursday, June 6th. Bank of America lowered their price target on ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating for the company in a report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. lowered their price target on ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating for the company in a report on Friday, March 22nd. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.01.

ZIM Integrated Shipping Services Stock Up 4.3 %

The firm has a 50-day moving average of $17.34 and a 200 day moving average of $13.55. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -0.99, a price-to-earnings-growth ratio of 0.19 and a beta of 1.88. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 1.49.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Tuesday, May 21st. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.34). The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.53 billion. ZIM Integrated Shipping Services had a negative return on equity of 14.80% and a negative net margin of 47.59%. On average, sell-side analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.42 earnings per share for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 4th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date was Tuesday, June 4th. ZIM Integrated Shipping Services’s payout ratio is -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of institutional investors have recently made changes to their positions in ZIM. Charles Schwab Investment Management Inc. raised its position in shares of ZIM Integrated Shipping Services by 82.8% in the 4th 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. International Assets Investment Management LLC increased its holdings in shares of ZIM Integrated Shipping Services by 1,204.6% in the 4th quarter. International Assets Investment Management LLC now owns 173,712 shares of the company’s stock valued at $17,600,000 after acquiring an additional 160,397 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of ZIM Integrated Shipping Services by 1,446.0% in the 4th 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. American Century Companies Inc. increased its holdings in shares of ZIM Integrated Shipping Services by 12.4% in the 3rd quarter. American Century Companies Inc. now owns 898,491 shares of the company’s stock valued at $9,389,000 after acquiring an additional 99,477 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of ZIM Integrated Shipping Services in the 1st quarter valued at approximately $854,000. 21.42% of the stock is 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.