ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – Should You Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares gapped up before the market opened on Friday . The stock had previously closed at $15.39, but opened at $15.77. ZIM Integrated Shipping Services shares last traded at $15.64, with a volume of 1,779,972 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Jefferies Financial Group reaffirmed 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. Barclays reduced their price objective on shares of ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating for the company in a report on Monday, March 17th. Finally, JPMorgan Chase & Co. lowered 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 research note on Friday, March 7th. Five analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $13.54.

ZIM Integrated Shipping Services Stock Performance

The stock has a fifty day simple moving average of $18.69 and a 200-day simple moving average of $20.52. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $1.87 billion, a P/E ratio of 1.30, a PEG ratio of 0.27 and a beta of 1.70.

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 the consensus estimate of $3.47 by $1.19. The firm had revenue of $2.17 billion during 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%. Equities analysts forecast that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Monday, March 24th will be given a dividend of $3.17 per share. The ex-dividend date is Monday, March 24th. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. This represents a $12.68 dividend on an annualized basis and a yield of 81.65%. ZIM Integrated Shipping Services’s dividend payout ratio is 6.51%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Altshuler Shaham Ltd grew its holdings in shares of ZIM Integrated Shipping Services by 650.0% during the fourth quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company’s stock worth $32,000 after purchasing an additional 1,300 shares during the last quarter. Employees Retirement System of Texas acquired a new position in ZIM Integrated Shipping Services during the 4th quarter worth about $45,000. Sunbelt Securities Inc. bought a new stake in shares of ZIM Integrated Shipping Services during the third quarter valued at approximately $71,000. Brown Brothers Harriman & Co. acquired a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter valued at approximately $79,000. Finally, Mark Sheptoff Financial Planning LLC raised its position in ZIM Integrated Shipping Services by 126.7% in the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 3,400 shares of the company’s stock worth $87,000 after purchasing an additional 1,900 shares during the last quarter. 21.42% of the stock is owned by institutional investors and hedge funds.

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.