ZIM Integrated Shipping Services Sees Unusually Large Options Volume (NYSE:ZIM)

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) was the recipient of unusually large options trading on Tuesday. Stock traders purchased 45,217 call options on the company. This represents an increase of approximately 40% compared to the average volume of 32,362 call options.

Wall Street Analyst Weigh In

Several analysts have recently commented on ZIM shares. Jefferies Financial Group restated a “buy” rating and issued a $22.00 target price on shares of ZIM Integrated Shipping Services in a research note on Monday, August 19th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Citigroup downgraded ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and increased their target price 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 company an “underweight” rating in a research note on Friday, August 23rd. Finally, Bank of America increased their price objective on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Four investment analysts have rated the stock with a sell rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $14.84.

ZIM Integrated Shipping Services Price Performance

Shares of NYSE:ZIM opened at $23.53 on Thursday. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of -1.11, a price-to-earnings-growth ratio of 0.04 and a beta of 1.83. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.04 and a quick ratio of 0.97. The business’s 50 day simple moving average is $19.03 and its 200-day simple moving average is $16.93. ZIM Integrated Shipping Services has a 12 month low of $6.39 and a 12 month high of $23.88.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $1.01. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm earned ($1.37) earnings per share. As a group, equities analysts forecast that ZIM Integrated Shipping Services will post 10.87 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were given a dividend of $0.93 per share. 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. This represents a $3.72 annualized dividend and a yield of 15.81%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently -4.35%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its position in ZIM Integrated Shipping Services by 2,341.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock worth $43,000 after acquiring an additional 1,850 shares during the last quarter. Mather Group LLC. acquired a new position in ZIM Integrated Shipping Services in the second quarter valued at $96,000. Scarborough Advisors LLC purchased a new position in ZIM Integrated Shipping Services during the fourth quarter worth about $58,000. Russell Investments Group Ltd. grew its holdings in ZIM Integrated Shipping Services by 1,431.1% in the 1st quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock valued at $61,000 after buying an additional 5,667 shares during the period. Finally, nVerses Capital LLC purchased a new stake in ZIM Integrated Shipping Services in the 2nd quarter valued at about $142,000. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

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.