ZIM Integrated Shipping Services (NYSE:ZIM) Issues Earnings Results, Beats Estimates By $0.56 EPS

ZIM Integrated Shipping Services (NYSE:ZIM) issued its earnings results on Monday. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.56, RTT News reports. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.84 billion. ZIM Integrated Shipping Services had a net margin of 19.26% and a return on equity of 48.63%. During the same quarter in the prior year, the business earned $0.75 earnings per share.

ZIM Integrated Shipping Services Stock Performance

Shares of NYSE ZIM opened at $18.80 on Wednesday. The company has a market capitalization of $2.26 billion, a PE ratio of 1.57, a price-to-earnings-growth ratio of 0.27 and a beta of 1.84. 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 company’s fifty day moving average price is $15.16 and its 200 day moving average price is $18.68. ZIM Integrated Shipping Services has a 1 year low of $11.04 and a 1 year high of $30.15.

ZIM Integrated Shipping Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Monday, March 24th were paid a $3.17 dividend. 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 dividend yield of 67.45%. The ex-dividend date was Monday, March 24th. ZIM Integrated Shipping Services’s payout ratio is currently 6.51%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Clarkson Capital lowered shares of ZIM Integrated Shipping Services from a “buy” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research note on Tuesday. JPMorgan Chase & Co. cut their price target on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating on the stock in a research note on Friday, March 7th. Bank of America lowered their target price on ZIM Integrated Shipping Services from $16.00 to $12.80 and set an “underperform” rating for the company in a report on Friday, April 11th. Jefferies Financial Group raised their price target on shares of ZIM Integrated Shipping Services from $16.00 to $17.00 and gave the company a “hold” rating in a report on Tuesday. Finally, Barclays reduced their target price on ZIM Integrated Shipping Services from $13.50 to $12.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. Five equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $14.05.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in shares of ZIM Integrated Shipping Services by 20.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock valued at $68,879,000 after purchasing an additional 788,514 shares in the last quarter. NewEdge Advisors LLC purchased a new position in ZIM Integrated Shipping Services during the first quarter worth approximately $210,000. Finally, Royal Bank of Canada grew its holdings in ZIM Integrated Shipping Services by 8.2% in the first quarter. Royal Bank of Canada now owns 40,827 shares of the company’s stock valued at $596,000 after purchasing an additional 3,102 shares during the period. Institutional investors and hedge funds own 21.42% of the company’s stock.

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.