ZIM Integrated Shipping Services (NYSE:ZIM) Shares Up 10.1% - Here's What Happened

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report)'s share price was up 10.1% on Monday . The company traded as high as $15.82 and last traded at $16.13. Approximately 2,833,158 shares were traded during trading, a decline of 50% from the average daily volume of 5,656,987 shares. The stock had previously closed at $14.65.

Analysts Set New Price Targets

ZIM has been the topic of a number of research analyst reports. Jefferies Financial Group reiterated a "hold" rating and issued a $18.00 target price on shares of ZIM Integrated Shipping Services in a research report on Wednesday, March 12th. JPMorgan Chase & Co. lowered their target price on 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 reduced their price target on shares of ZIM Integrated Shipping Services from $16.00 to $13.50 and set an "underweight" rating on the stock in a research report on Monday, March 17th. Five analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $13.54.

ZIM Integrated Shipping Services Stock Performance

The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26. The business has a 50-day moving average of $18.69 and a 200-day moving average of $20.52. The company has a market capitalization of $1.86 billion, a P/E ratio of 1.30, a P/E/G ratio of 0.27 and a beta of 1.70.

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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 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 analysts' expectations 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 anticipate that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Monday, March 24th will be paid a $3.17 dividend. This represents a $12.68 annualized dividend and a yield of 82.19%. 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 dividend payout ratio (DPR) is currently 6.51%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC raised its stake in shares of 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 valued at $331,000 after acquiring an additional 722 shares in the last quarter. Mark Sheptoff Financial Planning LLC lifted 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 worth $92,000 after buying an additional 900 shares during the period. Altshuler Shaham Ltd grew its position in shares of ZIM Integrated Shipping Services by 650.0% during the 4th quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company's stock worth $32,000 after buying an additional 1,300 shares in the last quarter. Truist Financial Corp grew its position in shares of ZIM Integrated Shipping Services by 10.2% during the 4th quarter. Truist Financial Corp now owns 14,804 shares of the company's stock worth $318,000 after buying an additional 1,376 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of ZIM Integrated Shipping Services by 20.5% during the fourth quarter. HighTower Advisors LLC now owns 12,246 shares of the company's stock valued at $263,000 after buying an additional 2,080 shares during the period. 21.42% of the stock is owned by hedge funds and other 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.