ZIM Integrated Shipping Services (NYSE:ZIM) PT Raised to $13.90

ZIM Integrated Shipping Services (NYSE:ZIM - Free Report) had its target price upped by Barclays from $12.30 to $13.90 in a report published on Wednesday, Benzinga reports. They currently have an underweight rating on the stock.

Other analysts have also issued reports about the stock. Jefferies Financial Group lowered shares of ZIM Integrated Shipping Services from a "buy" rating to a "hold" rating and set a $25.00 target price for the company. in a research note on Wednesday, October 2nd. Bank of America lifted their price objective on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an "underperform" rating in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $15.22.

ZIM Integrated Shipping Services Trading Down 7.7 %

ZIM Integrated Shipping Services stock traded down $1.88 during midday trading on Wednesday, reaching $22.46. The stock had a trading volume of 5,139,778 shares, compared to its average volume of 6,129,291. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.41. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of -1.06, a price-to-earnings-growth ratio of 0.04 and a beta of 1.86. ZIM Integrated Shipping Services has a 52-week low of $6.39 and a 52-week high of $26.20. The company has a fifty day moving average of $20.30 and a 200 day moving average of $18.52.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) 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. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the business posted ($1.37) earnings per share. On average, analysts anticipate that ZIM Integrated Shipping Services will post 11.22 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 29th were issued a $0.93 dividend. This is an increase from ZIM Integrated Shipping Services's previous quarterly dividend of $0.23. This represents a $3.72 annualized dividend and a dividend yield of 16.56%. The ex-dividend date of this dividend was Thursday, August 29th. ZIM Integrated Shipping Services's payout ratio is presently -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its position in ZIM Integrated Shipping Services by 479.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company's stock valued at $58,429,000 after acquiring an additional 2,181,000 shares in the last quarter. Marshall Wace LLP grew its stake in ZIM Integrated Shipping Services by 638.6% in the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company's stock valued at $53,148,000 after purchasing an additional 2,072,715 shares during the last quarter. American Century Companies Inc. raised its holdings in ZIM Integrated Shipping Services by 7.8% in the second quarter. American Century Companies Inc. now owns 1,759,141 shares of the company's stock worth $39,000,000 after purchasing an additional 127,229 shares in the last quarter. Encompass Capital Advisors LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the second quarter valued at about $14,383,000. Finally, Millennium Management LLC boosted its holdings in shares of ZIM Integrated Shipping Services by 306.7% in the 2nd quarter. Millennium Management LLC now owns 425,795 shares of the company's stock valued at $9,440,000 after buying an additional 321,100 shares in the last quarter. 21.42% of the stock is owned by hedge funds and other 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.