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ZIM Integrated Shipping Services (NYSE:ZIM) Sees Large Volume Increase Following Strong Earnings

ZIM Integrated Shipping Services logo with Transportation background
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ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) shares saw unusually-strong trading volume on Wednesday following a stronger than expected earnings report. Approximately 4,200,885 shares were traded during mid-day trading, a decline of 23% from the previous session's volume of 5,489,504 shares.The stock last traded at $18.89 and had previously closed at $20.31.

The company reported $4.66 EPS for the quarter, topping the consensus estimate of $3.47 by $1.19. The company had revenue of $2.17 billion during 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%.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th will be paid a dividend of $3.17 per share. This represents a $12.68 annualized dividend and a dividend yield of 69.71%. The ex-dividend date of this dividend is Monday, March 24th. This is an increase from ZIM Integrated Shipping Services's previous quarterly dividend of $2.81. ZIM Integrated Shipping Services's payout ratio is currently 9.72%.

Wall Street Analysts Forecast Growth

ZIM has been the topic of several analyst reports. Fearnley Fonds lowered shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong sell" rating in a report on Thursday, November 21st. Jefferies Financial Group reissued a "hold" rating and set a $18.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday. Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. decreased their target price on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an "underweight" rating for the company in a research report on Friday, March 7th. Finally, Barclays decreased their price objective on shares of ZIM Integrated Shipping Services from $16.50 to $16.00 and set an "underweight" rating for the company in a research report on Friday, January 10th. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $14.04.

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Get Our Latest Stock Analysis on ZIM

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ZIM. JPMorgan Chase & Co. grew its stake in ZIM Integrated Shipping Services by 59.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company's stock valued at $46,482,000 after acquiring an additional 674,723 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in ZIM Integrated Shipping Services during the 3rd quarter valued at about $2,612,000. Blueshift Asset Management LLC purchased a new stake in ZIM Integrated Shipping Services during the 3rd quarter valued at about $620,000. Quantbot Technologies LP grew its stake in ZIM Integrated Shipping Services by 9,573.0% during the 3rd quarter. Quantbot Technologies LP now owns 370,477 shares of the company's stock valued at $9,506,000 after acquiring an additional 366,647 shares in the last quarter. Finally, Decker Retirement Planning Inc. purchased a new stake in ZIM Integrated Shipping Services during the 4th quarter valued at about $5,509,000. Institutional investors and hedge funds own 21.42% of the company's stock.

ZIM Integrated Shipping Services Stock Performance

The company has a market cap of $2.19 billion, a PE ratio of 1.52, a PEG ratio of 0.27 and a beta of 1.70. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33. The firm's 50 day moving average is $19.18 and its 200-day moving average is $20.59.

ZIM Integrated Shipping Services Company Profile

(Get Free Report)

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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