ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up on Strong Earnings

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price gapped up before the market opened on Monday after the company announced better than expected quarterly earnings. The stock had previously closed at $18.33, but opened at $18.75. ZIM Integrated Shipping Services shares last traded at $20.24, with a volume of 9,555,723 shares.

The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.61. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. During the same quarter in the previous year, the business earned $0.75 earnings per share.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th were given a dividend of $3.17 per share. The ex-dividend date was Monday, March 24th. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. This represents a $12.68 dividend on an annualized basis and a dividend yield of 61.81%. ZIM Integrated Shipping Services’s payout ratio is currently 6.51%.

Analyst Ratings Changes

ZIM has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their price target on shares of ZIM Integrated Shipping Services from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Tuesday, May 13th. Bank of America reduced their price target 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. reduced their target price 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. Finally, Barclays lowered their price target on shares of ZIM Integrated Shipping Services from $13.50 to $12.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.66.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ZIM. Raymond James Financial Inc. purchased a new position in shares of ZIM Integrated Shipping Services in the 4th quarter worth about $1,771,000. HighTower Advisors LLC grew its position in ZIM Integrated Shipping Services by 20.5% during the fourth quarter. HighTower Advisors LLC now owns 12,246 shares of the company’s stock worth $263,000 after buying an additional 2,080 shares in the last quarter. Truist Financial Corp grew its stake in ZIM Integrated Shipping Services by 10.2% in 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. Mariner LLC purchased a new position in shares of ZIM Integrated Shipping Services during the 4th quarter valued at about $735,000. Finally, Swiss National Bank lifted its stake in shares of ZIM Integrated Shipping Services by 8.2% in the 4th quarter. Swiss National Bank now owns 204,700 shares of the company’s stock valued at $4,395,000 after acquiring an additional 15,600 shares during the last quarter. 21.42% of the stock is owned by institutional investors.

ZIM Integrated Shipping Services Stock Performance

The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The firm has a market cap of $2.47 billion, a P/E ratio of 1.70, a price-to-earnings-growth ratio of 0.27 and a beta of 1.84. The business’s fifty day simple moving average is $15.14 and its 200-day simple moving average is $18.71.

ZIM Integrated Shipping Services Company Profile

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.