ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Up 6.7% – What’s Next?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares rose 6.7% during trading on Monday . The company traded as high as $13.74 and last traded at $13.37. Approximately 5,549,790 shares changed hands during trading, a decline of 7% from the average daily volume of 5,946,434 shares. The stock had previously closed at $12.52.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $18.00 target price on shares of ZIM Integrated Shipping Services in a research note on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price objective on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a research report on Friday, March 7th. Finally, Barclays reduced their target price on shares of ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating on the stock in a research report on Monday, March 17th. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ZIM Integrated Shipping Services currently has a consensus rating of “Hold” and a consensus price target of $13.54.

ZIM Integrated Shipping Services Stock Up 2.3 %

The firm has a fifty day simple moving average of $18.35 and a 200-day simple moving average of $20.35. The company has a market capitalization of $1.54 billion, a PE ratio of 1.07, a P/E/G 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.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings results on Wednesday, March 12th. The company reported $4.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $1.19. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $1.99 billion. ZIM Integrated Shipping Services had a net margin of 19.26% and a return on equity of 48.63%. Equities research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were given a $3.17 dividend. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. The ex-dividend date was Monday, March 24th. This represents a $12.68 annualized dividend and a yield of 98.97%. ZIM Integrated Shipping Services’s dividend payout ratio is 6.51%.

Institutional Trading of ZIM Integrated Shipping Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in ZIM Integrated Shipping Services by 50.0% during the fourth quarter. Renaissance Technologies LLC now owns 5,726,631 shares of the company’s stock valued at $122,951,000 after purchasing an additional 1,909,480 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in ZIM Integrated Shipping Services by 33.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,784,352 shares of the company’s stock worth $81,250,000 after buying an additional 940,587 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in ZIM Integrated Shipping Services in the fourth quarter worth $16,381,000. JPMorgan Chase & Co. raised its holdings in ZIM Integrated Shipping Services by 59.4% during the third quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock valued at $46,482,000 after buying an additional 674,723 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of ZIM Integrated Shipping Services during the 4th quarter valued at about $14,324,000. 21.42% of the stock is currently owned by 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.