ZIM Integrated Shipping Services (NYSE:ZIM) Price Target Cut to $12.80 by Analysts at Bank of America

ZIM Integrated Shipping Services (NYSE:ZIM - Free Report) had its price target trimmed by Bank of America from $16.00 to $12.80 in a research note released on Friday,Benzinga reports. The brokerage currently has an underperform rating on the stock.

A number of other analysts have also weighed in on ZIM. JPMorgan Chase & Co. lowered their price target on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an "underweight" rating for the company in a report on Friday, March 7th. Barclays lowered their target price on shares of ZIM Integrated Shipping Services from $16.00 to $13.50 and set an "underweight" rating for the company in a research note on Monday, March 17th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $18.00 price objective on shares of ZIM Integrated Shipping Services in a research report on Wednesday, March 12th. Five research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, ZIM Integrated Shipping Services has an average rating of "Hold" and a consensus price target of $13.36.

ZIM Integrated Shipping Services Stock Up 9.6 %

ZIM traded up $1.21 on Friday, reaching $13.81. 6,576,829 shares of the company traded hands, compared to its average volume of 6,079,901. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26. ZIM Integrated Shipping Services has a 52-week low of $9.75 and a 52-week high of $30.15. The stock's 50 day moving average price is $17.77 and its 200-day moving average price is $19.98. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 1.16, a PEG ratio of 0.27 and a beta of 1.84.

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ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last released its earnings results on Wednesday, March 12th. The company reported $4.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $1.19. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.99 billion. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. On average, sell-side analysts expect that ZIM Integrated Shipping Services will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The business 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. The ex-dividend date of this dividend was Monday, March 24th. This is a boost from ZIM Integrated Shipping Services's previous quarterly dividend of $2.81. This represents a $12.68 annualized dividend and a yield of 91.84%. ZIM Integrated Shipping Services's dividend payout ratio is 6.51%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of institutional investors and hedge funds have recently made changes to their positions in ZIM. Lazard Asset Management LLC raised its position in ZIM Integrated Shipping Services by 4.9% during the fourth quarter. Lazard Asset Management LLC now owns 15,443 shares of the company's stock worth $331,000 after acquiring an additional 722 shares in the last quarter. Mark Sheptoff Financial Planning LLC raised its holdings in shares of ZIM Integrated Shipping Services by 26.5% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,300 shares of the company's stock valued at $92,000 after purchasing an additional 900 shares during the period. Altshuler Shaham Ltd lifted its stake in ZIM Integrated Shipping Services by 650.0% in the 4th quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company's stock valued at $32,000 after purchasing an additional 1,300 shares during the last quarter. Truist Financial Corp grew its holdings in ZIM Integrated Shipping Services by 10.2% during the fourth quarter. Truist Financial Corp now owns 14,804 shares of the company's stock worth $318,000 after purchasing an additional 1,376 shares during the period. Finally, HighTower Advisors LLC increased its position in ZIM Integrated Shipping Services by 20.5% during the fourth quarter. HighTower Advisors LLC now owns 12,246 shares of the company's stock worth $263,000 after buying an additional 2,080 shares during the last quarter. Institutional investors own 21.42% of the company's stock.

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.