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

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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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

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.