ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $22.87, but opened at $23.72. ZIM Integrated Shipping Services shares last traded at $23.94, with a volume of 694,172 shares.
Analysts Set New Price Targets
Several brokerages have commented on ZIM. Barclays upped their price target 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. Bank of America raised their price target 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. Jefferies Financial Group lowered 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 research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. reissued 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 equities research analysts have rated the stock with a sell rating and one has given a hold rating to the stock. Based on data from MarketBeat.com, ZIM Integrated Shipping Services presently has a consensus rating of "Reduce" and an average price target of $15.44.
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ZIM Integrated Shipping Services Trading Up 8.0 %
The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -1.52, a PEG ratio of 0.04 and a beta of 1.86. The business's 50-day moving average price is $20.20 and its 200 day moving average price is $18.43. 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 - Get Free Report) last announced its earnings results on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.07 by $1.01. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.71 billion. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. During the same period last year, the firm earned ($1.37) earnings per share. On average, equities analysts forecast 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 business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 29th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 15.06%. This is an increase from ZIM Integrated Shipping Services's previous quarterly dividend of $0.23. ZIM Integrated Shipping Services's dividend payout ratio (DPR) is presently -5.64%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in ZIM. Renaissance Technologies LLC raised its stake in shares of ZIM Integrated Shipping Services by 479.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company's stock valued at $58,429,000 after purchasing an additional 2,181,000 shares in the last quarter. Marshall Wace LLP raised its stake in ZIM Integrated Shipping Services by 638.6% during the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company's stock valued at $53,148,000 after buying an additional 2,072,715 shares in the last quarter. Encompass Capital Advisors LLC bought a new position in ZIM Integrated Shipping Services during the 2nd quarter worth approximately $14,383,000. Millennium Management LLC grew its position 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 worth $9,440,000 after acquiring an additional 321,100 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of ZIM Integrated Shipping Services by 1,226.7% in the 3rd quarter. SG Americas Securities LLC now owns 343,581 shares of the company's stock valued at $8,816,000 after acquiring an additional 317,684 shares during the last quarter. 21.42% of the stock is currently owned by institutional investors.
About ZIM Integrated Shipping Services
(
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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.
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