Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) saw an uptick in trading volume on Wednesday following a better than expected earnings announcement. 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, beating analysts' consensus estimates of $3.47 by $1.19. ZIM Integrated Shipping Services had a net margin of 19.26% and a return on equity of 48.63%. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.99 billion.
ZIM Integrated Shipping Services Increases Dividend
The business also recently disclosed 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. The ex-dividend date is Monday, March 24th. This represents a $12.68 dividend on an annualized basis and a dividend yield of 69.71%. This is an increase from ZIM Integrated Shipping Services's previous quarterly dividend of $2.81. ZIM Integrated Shipping Services's dividend payout ratio is currently 6.51%.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on ZIM shares. Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong sell" rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. dropped their price objective on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an "underweight" rating for the company in a research note on Friday, March 7th. Jefferies Financial Group reiterated a "hold" rating and set a $18.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday. Clarkson Capital upgraded ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Finally, Barclays decreased their target price on ZIM Integrated Shipping Services from $16.50 to $16.00 and set an "underweight" rating for the company in a report on Friday, January 10th. Five research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $14.04.
Check Out Our Latest Report on ZIM Integrated Shipping Services
Hedge Funds Weigh In On ZIM Integrated Shipping Services
Institutional investors and hedge funds have recently bought and sold shares of the stock. Altshuler Shaham Ltd boosted its holdings 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 worth $32,000 after acquiring an additional 1,300 shares during the period. Employees Retirement System of Texas purchased a new position in ZIM Integrated Shipping Services in the 4th quarter worth approximately $45,000. Sunbelt Securities Inc. purchased a new position in ZIM Integrated Shipping Services in the 3rd quarter worth approximately $71,000. Mark Sheptoff Financial Planning LLC boosted its holdings in ZIM Integrated Shipping Services by 126.7% in the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 3,400 shares of the company's stock worth $87,000 after acquiring an additional 1,900 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new position in ZIM Integrated Shipping Services in the 4th quarter worth approximately $79,000. Hedge funds and other institutional investors own 21.42% of the company's stock.
ZIM Integrated Shipping Services Stock Performance
The stock 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 stock has a fifty day simple moving average of $19.10 and a two-hundred day simple moving average of $20.59. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33.
ZIM Integrated Shipping Services Company Profile
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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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