ZIM Integrated Shipping Services (NYSE:ZIM) Sets New 12-Month High at $25.38

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $25.38 and last traded at $25.38, with a volume of 144002 shares traded. The stock had previously closed at $24.24.

Analyst Ratings Changes

ZIM has been the subject of a number of recent analyst reports. Barclays upped their price target on ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Citigroup downgraded ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and upped their target price for the stock from $11.60 to $13.00 in a report on Thursday, June 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $22.00 price target on shares of ZIM Integrated Shipping Services in a research note on Monday, August 19th. Finally, Bank of America raised their price objective on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Four research analysts have rated the stock with a sell rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $14.84.

ZIM Integrated Shipping Services Trading Down 5.2 %

The stock has a 50-day moving average of $19.57 and a two-hundred day moving average of $17.37. The company has a market cap of $2.93 billion, a P/E ratio of -1.15, a price-to-earnings-growth ratio of 0.05 and a beta of 1.83. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.04.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $1.01. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business posted ($1.37) EPS. On average, equities research analysts predict that ZIM Integrated Shipping Services Ltd. will post 10.87 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 29th were issued a dividend of $0.93 per share. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, August 29th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 15.30%. ZIM Integrated Shipping Services’s dividend payout ratio is presently -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of hedge funds have recently added to or reduced their stakes in ZIM. Northwestern Mutual Wealth Management Co. increased its holdings in shares of ZIM Integrated Shipping Services by 2,341.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock worth $43,000 after purchasing an additional 1,850 shares in the last quarter. California State Teachers Retirement System increased its holdings in ZIM Integrated Shipping Services by 2.4% in the 1st quarter. California State Teachers Retirement System now owns 104,767 shares of the company’s stock worth $1,060,000 after buying an additional 2,423 shares in the last quarter. Van ECK Associates Corp increased its holdings in ZIM Integrated Shipping Services by 9.6% in the 2nd quarter. Van ECK Associates Corp now owns 37,488 shares of the company’s stock worth $831,000 after buying an additional 3,296 shares in the last quarter. Rhumbline Advisers raised its position in ZIM Integrated Shipping Services by 39.3% in the 2nd quarter. Rhumbline Advisers now owns 11,732 shares of the company’s stock worth $260,000 after buying an additional 3,311 shares during the last quarter. Finally, Mather Group LLC. bought a new position in ZIM Integrated Shipping Services during the 2nd quarter valued at about $96,000. 21.42% of the stock is currently 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.