ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up to $16.40

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $16.40, but opened at $16.84. ZIM Integrated Shipping Services shares last traded at $17.66, with a volume of 676,888 shares.

Analyst Upgrades and Downgrades

ZIM has been the subject of several research analyst reports. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a report on Tuesday. Bank of America raised their price objective on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Barclays increased their price objective on shares of 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. Jefferies Financial Group reiterated a “buy” rating and set a $22.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Monday, August 19th. Finally, Citigroup downgraded ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and boosted their price target for the company from $11.60 to $13.00 in a report on Thursday, June 6th. Four equities research analysts have rated the stock with a sell rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, ZIM Integrated Shipping Services has an average rating of “Reduce” and a consensus price target of $14.84.

ZIM Integrated Shipping Services Price Performance

The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.41. The company has a market cap of $2.16 billion, a PE ratio of -0.83, a price-to-earnings-growth ratio of 0.03 and a beta of 1.83. The stock has a fifty day simple moving average of $18.87 and a two-hundred day simple moving average of $16.30.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the business earned ($1.37) EPS. On average, equities analysts predict that ZIM Integrated Shipping Services Ltd. will post 11.79 EPS 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. Investors of record on Thursday, August 29th were issued a dividend of $0.93 per share. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. This represents a $3.72 annualized dividend and a dividend yield of 20.74%. The ex-dividend date was Thursday, August 29th. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently -4.35%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several hedge funds and other institutional investors have recently modified their holdings of ZIM. Allianz Asset Management GmbH boosted its holdings in shares of ZIM Integrated Shipping Services by 1,446.0% in the fourth quarter. Allianz Asset Management GmbH now owns 161,552 shares of the company’s stock valued at $1,595,000 after buying an additional 151,102 shares during the period. Private Advisor Group LLC acquired a new position in shares of ZIM Integrated Shipping Services during the 4th quarter worth $127,000. Seven Eight Capital LP boosted its position in ZIM Integrated Shipping Services by 166.1% in the fourth quarter. Seven Eight Capital LP now owns 83,745 shares of the company’s stock valued at $827,000 after buying an additional 52,270 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in ZIM Integrated Shipping Services by 81.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 89,560 shares of the company’s stock valued at $956,000 after purchasing an additional 40,326 shares during the period. Finally, Jump Financial LLC bought a new position in ZIM Integrated Shipping Services during the fourth quarter worth $130,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

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.