ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – Here’s Why

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $14.27, but opened at $16.70. ZIM Integrated Shipping Services shares last traded at $16.75, with a volume of 6,094,077 shares.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ZIM. Jefferies Financial Group boosted their price objective on shares of ZIM Integrated Shipping Services from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Tuesday. Bank of America decreased their target price on shares of ZIM Integrated Shipping Services from $16.00 to $12.80 and set an “underperform” rating on the stock in a research report on Friday, April 11th. 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 on the stock in a report on Friday, March 7th. Finally, Barclays decreased 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, one has assigned a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.66.

ZIM Integrated Shipping Services Stock Up 5.0%

The stock has a market cap of $2.06 billion, a PE ratio of 1.43, a PEG ratio of 0.27 and a beta of 1.84. 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 company has a 50 day moving average price of $15.28 and a two-hundred day moving average price of $18.83.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings results on Wednesday, March 12th. The company reported $4.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $1.19. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.99 billion. ZIM Integrated Shipping Services had a net margin of 19.26% and a return on equity of 48.63%. Analysts expect 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 announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were issued a dividend of $3.17 per share. The ex-dividend date of this dividend was Monday, March 24th. This represents a $12.68 dividend on an annualized basis and a yield of 74.24%. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. ZIM Integrated Shipping Services’s dividend payout ratio is currently 6.51%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Large investors have recently made changes to their positions in the stock. New York State Common Retirement Fund acquired a new position in ZIM Integrated Shipping Services in the 1st quarter valued at $30,000. Altshuler Shaham Ltd boosted its holdings in shares of ZIM Integrated Shipping Services by 650.0% in the 4th quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company’s stock valued at $32,000 after buying an additional 1,300 shares in the last quarter. Employees Retirement System of Texas acquired a new position in ZIM Integrated Shipping Services during the fourth quarter worth approximately $45,000. Brown Brothers Harriman & Co. purchased a new position in shares of ZIM Integrated Shipping Services during the fourth quarter worth about $79,000. Finally, R Squared Ltd purchased a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter valued at about $88,000. 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.