Barclays Cuts ZIM Integrated Shipping Services (NYSE:ZIM) Price Target to $13.50

ZIM Integrated Shipping Services (NYSE:ZIM) had its price target reduced by Barclays from $16.00 to $13.50 in a report released on Monday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

A number of other research firms also recently issued reports on ZIM. JPMorgan Chase & Co. cut their price objective on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a report on Friday, March 7th. Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. Clarkson Capital raised shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group restated a “hold” rating and issued a $18.00 target price on shares of ZIM Integrated Shipping Services in a research report on Wednesday, March 12th. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $13.54.

ZIM Integrated Shipping Services Stock Performance

Shares of ZIM opened at $18.87 on Monday. The firm has a 50-day moving average of $18.94 and a 200-day moving average of $20.58. ZIM Integrated Shipping Services has a one year low of $9.08 and a one year high of $30.15. The company has a market cap of $2.27 billion, a PE ratio of 1.58, a price-to-earnings-growth ratio of 0.27 and a beta of 1.70. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Wednesday, March 12th. The company reported $4.66 EPS for the quarter, topping the consensus estimate of $3.47 by $1.19. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.99 billion. ZIM Integrated Shipping Services had a net margin of 19.26% and a return on equity of 48.63%. As a group, equities analysts forecast that ZIM Integrated Shipping Services will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Monday, March 24th will be given a dividend of $3.17 per share. This represents a $12.68 dividend on an annualized basis and a yield of 67.20%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. The ex-dividend date is Monday, March 24th. ZIM Integrated Shipping Services’s dividend payout ratio is currently 6.51%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of institutional investors have recently added to or reduced their stakes in ZIM. Renaissance Technologies LLC increased its position in ZIM Integrated Shipping Services by 50.0% during the 4th quarter. Renaissance Technologies LLC now owns 5,726,631 shares of the company’s stock worth $122,951,000 after purchasing an additional 1,909,480 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in ZIM Integrated Shipping Services by 33.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,784,352 shares of the company’s stock worth $81,250,000 after purchasing an additional 940,587 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in ZIM Integrated Shipping Services in the 4th quarter valued at approximately $16,381,000. JPMorgan Chase & Co. increased its position in ZIM Integrated Shipping Services by 59.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock valued at $46,482,000 after acquiring an additional 674,723 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in ZIM Integrated Shipping Services in the 4th quarter valued at approximately $14,324,000. 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.