Barclays Cuts ZIM Integrated Shipping Services (NYSE:ZIM) Price Target to $12.00

ZIM Integrated Shipping Services (NYSE:ZIM - Free Report) had its price target cut by Barclays from $13.50 to $12.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an underweight rating on the stock.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group reiterated a "hold" rating and issued a $18.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday, March 12th. Bank of America reduced their price target on shares of ZIM Integrated Shipping Services from $16.00 to $12.80 and set an "underperform" rating for the company in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. cut their target price on 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 investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $13.06.

ZIM Integrated Shipping Services Stock Up 2.0 %

Shares of NYSE ZIM traded up $0.27 during mid-day trading on Wednesday, reaching $13.75. 3,044,160 shares of the company traded hands, compared to its average volume of 6,117,158. The company's fifty day moving average is $17.27 and its two-hundred day moving average is $19.64. The stock has a market cap of $1.66 billion, a PE ratio of 1.15, a price-to-earnings-growth ratio of 0.27 and a beta of 1.84. ZIM Integrated Shipping Services has a fifty-two week low of $9.75 and a fifty-two week high of $30.15. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The company reported $4.66 EPS for the quarter, topping 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, analysts expect that ZIM Integrated Shipping Services will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently declared 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. This represents a $12.68 annualized dividend and a dividend yield of 92.19%. This is a boost from ZIM Integrated Shipping Services's previous quarterly dividend of $2.81. The ex-dividend date was Monday, March 24th. ZIM Integrated Shipping Services's payout ratio is presently 6.51%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Institutional investors have recently modified their holdings of the business. Altshuler Shaham Ltd raised its holdings 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 valued at $32,000 after buying 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 during the fourth quarter valued at approximately $45,000. Brown Brothers Harriman & Co. purchased a new stake in ZIM Integrated Shipping Services in the 4th quarter valued at about $79,000. R Squared Ltd purchased a new stake in shares of ZIM Integrated Shipping Services during the 4th quarter valued at $88,000. Finally, Mark Sheptoff Financial Planning LLC grew its stake in ZIM Integrated Shipping Services by 26.5% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,300 shares of the company's stock worth $92,000 after buying an additional 900 shares during the period. 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.