ZIM Integrated Shipping Services (NYSE:ZIM) Shares Up 6.2% - Should You Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) shares traded up 6.2% during mid-day trading on Monday . The stock traded as high as $21.04 and last traded at $21.02. 1,320,425 shares traded hands during trading, a decline of 78% from the average session volume of 6,117,293 shares. The stock had previously closed at $19.80.

Analysts Set New Price Targets

ZIM has been the topic of several recent analyst reports. Barclays raised their target price 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 lifted their price objective on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an "underperform" rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group cut shares of ZIM Integrated Shipping Services from a "buy" rating to a "hold" rating and set a $25.00 price target on the stock. in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $15.44.

ZIM Integrated Shipping Services Trading Up 7.0 %

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 $2.55 billion, a PE ratio of -1.00, a PEG ratio of 0.03 and a beta of 1.86. The stock has a 50 day moving average price of $19.80 and a 200 day moving average price of $17.95.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its quarterly earnings results on Monday, August 19th. The company reported $3.08 EPS for the quarter, topping analysts' consensus estimates of $2.07 by $1.01. The firm had revenue of $1.93 billion for the quarter, compared to analysts' expectations 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 in the previous year, the firm posted ($1.37) EPS. Sell-side analysts predict that ZIM Integrated Shipping Services Ltd. will post 11.22 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 29th were paid a $0.93 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $3.72 annualized dividend and a dividend yield of 17.56%. This is a boost from ZIM Integrated Shipping Services's previous quarterly dividend of $0.23. ZIM Integrated Shipping Services's payout ratio is currently -4.35%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several large investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in ZIM Integrated Shipping Services in the third quarter worth approximately $31,000. Valeo Financial Advisors LLC bought a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter valued at $385,000. SG Americas Securities LLC boosted its stake 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 worth $8,816,000 after buying an additional 317,684 shares during the last quarter. Truist Financial Corp bought a new stake in shares of ZIM Integrated Shipping Services in the second quarter worth $417,000. Finally, Point72 Asset Management L.P. purchased a new stake in ZIM Integrated Shipping Services during the second quarter valued at $5,849,000. 21.42% of the stock is currently owned by institutional investors.

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.