ZIM Integrated Shipping Services (NYSE:ZIM) Shares Up 6.7% – Here’s Why

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares traded up 6.7% on Monday . The company traded as high as $13.74 and last traded at $13.37. 5,549,790 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 5,946,434 shares. The stock had previously closed at $12.52.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ZIM. Jefferies Financial Group reaffirmed a “hold” rating and issued a $18.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price target on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating on the stock in a research report on Friday, March 7th. Finally, Barclays cut their price objective on ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating for the company in a research report on Monday, March 17th. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ZIM Integrated Shipping Services has an average rating of “Hold” and an average target price of $13.54.

ZIM Integrated Shipping Services Trading Up 2.3 %

The business’s fifty day moving average price is $18.35 and its 200 day moving average price is $20.35. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $1.54 billion, a PE ratio of 1.07, a P/E/G ratio of 0.27 and a beta of 1.84.

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

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Monday, March 24th were given a dividend of $3.17 per share. The ex-dividend date was Monday, March 24th. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. This represents a $12.68 annualized dividend and a yield of 98.97%. ZIM Integrated Shipping Services’s dividend payout ratio is 6.51%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ZIM. Altshuler Shaham Ltd boosted its holdings in ZIM Integrated Shipping Services by 650.0% in the fourth quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company’s stock valued at $32,000 after acquiring an additional 1,300 shares during the last quarter. Employees Retirement System of Texas purchased a new position in shares of ZIM Integrated Shipping Services in the 4th quarter worth about $45,000. Sunbelt Securities Inc. acquired a new position in shares of ZIM Integrated Shipping Services in the 3rd quarter valued at about $71,000. Brown Brothers Harriman & Co. purchased a new stake in shares of ZIM Integrated Shipping Services during the 4th quarter worth about $79,000. Finally, R Squared Ltd acquired a new stake in ZIM Integrated Shipping Services during the 4th quarter worth approximately $88,000. 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.