ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – Here’s What Happened

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $15.39, but opened at $15.77. ZIM Integrated Shipping Services shares last traded at $15.64, with a volume of 1,779,972 shares traded.

Analysts Set New Price Targets

ZIM has been the topic of a number of recent research reports. Barclays lowered their target price on ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating on the stock in a research note on Monday, March 17th. Jefferies Financial Group restated a “hold” rating and issued a $18.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. reduced their target price on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a research note on Friday, March 7th. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ZIM Integrated Shipping Services currently has a consensus rating of “Hold” and a consensus price target of $13.54.

ZIM Integrated Shipping Services Stock Performance

The company has a market cap of $1.87 billion, a price-to-earnings ratio of 1.30, a P/E/G 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. The firm has a fifty day simple moving average of $18.69 and a 200 day simple moving average of $20.52.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Wednesday, March 12th. The company reported $4.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $1.19. ZIM Integrated Shipping Services had a net margin of 19.26% and a return on equity of 48.63%. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.99 billion. On average, sell-side analysts expect that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Monday, March 24th will be paid a dividend of $3.17 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. The ex-dividend date of this dividend is Monday, March 24th. This represents a $12.68 annualized dividend and a yield of 81.65%. ZIM Integrated Shipping Services’s dividend payout ratio is presently 6.51%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd grew its stake in shares of ZIM Integrated Shipping Services by 650.0% in the fourth quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company’s stock worth $32,000 after acquiring an additional 1,300 shares during the last quarter. Employees Retirement System of Texas acquired a new stake in ZIM Integrated Shipping Services in the 4th quarter worth $45,000. Sunbelt Securities Inc. bought a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter worth about $71,000. Brown Brothers Harriman & Co. acquired a new position in shares of ZIM Integrated Shipping Services during the fourth quarter valued at about $79,000. Finally, Mark Sheptoff Financial Planning LLC lifted its stake in shares of ZIM Integrated Shipping Services by 126.7% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 3,400 shares of the company’s stock valued at $87,000 after buying an additional 1,900 shares during the period. 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.