ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Up 6.2% – Should You Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price rose 6.2% on Monday . The stock traded as high as $21.04 and last traded at $21.02. Approximately 1,320,425 shares traded hands during trading, a decline of 78% from the average daily volume of 6,117,293 shares. The stock had previously closed at $19.80.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ZIM shares. Jefferies Financial Group cut shares of ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a report on Wednesday, October 2nd. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Barclays raised their price objective on ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Finally, Bank of America increased their price target on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Four investment analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $15.44.

ZIM Integrated Shipping Services Stock Down 2.1 %

The firm has a 50-day moving average price of $19.89 and a two-hundred day moving average price of $18.10. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -1.27, a PEG ratio of 0.04 and a beta of 1.86. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.04 and a quick ratio of 0.97.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, topping the consensus estimate of $2.07 by $1.01. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.71 billion. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. During the same period last year, the business earned ($1.37) EPS. As a group, sell-side analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 11.22 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 29th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 17.95%. 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. ZIM Integrated Shipping Services’s dividend payout ratio is currently -5.64%.

Institutional Trading of ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently modified their holdings of ZIM. International Assets Investment Management LLC grew its stake in ZIM Integrated Shipping Services by 29.5% in the first quarter. International Assets Investment Management LLC now owns 22,800 shares of the company’s stock valued at $243,000 after purchasing an additional 5,200 shares in the last quarter. Counterpoint Mutual Funds LLC raised its position in ZIM Integrated Shipping Services by 105.9% during the first quarter. Counterpoint Mutual Funds LLC now owns 28,438 shares of the company’s stock worth $288,000 after acquiring an additional 14,627 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in ZIM Integrated Shipping Services during the first quarter worth $310,000. Russell Investments Group Ltd. lifted its stake in ZIM Integrated Shipping Services by 1,431.1% in the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock valued at $61,000 after acquiring an additional 5,667 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of ZIM Integrated Shipping Services during the 1st quarter worth about $854,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

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.