ZIM Integrated Shipping Services (NYSE:ZIM) Trading 7.5% Higher – Here’s What Happened

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) rose 7.5% during mid-day trading on Thursday . The company traded as high as $23.61 and last traded at $23.08. Approximately 2,425,268 shares traded hands during trading, a decline of 61% from the average daily volume of 6,167,440 shares. The stock had previously closed at $21.47.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Fearnley Fonds lowered shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Barclays upped their target price on ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the stock an “underweight” rating in a report on Monday, November 25th. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Finally, Jefferies Financial Group dropped their price objective on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating for the company in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.14.

ZIM Integrated Shipping Services Stock Performance

The stock has a 50 day moving average of $22.20 and a 200 day moving average of $20.70. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 1.93, a price-to-earnings-growth ratio of 0.04 and a beta of 1.78. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11.

ZIM Integrated Shipping Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were given a $2.81 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a dividend yield of 48.70%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s payout ratio is 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of hedge funds have recently bought and sold shares of ZIM. Fairman Group LLC bought a new stake in ZIM Integrated Shipping Services in the third quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of ZIM Integrated Shipping Services in the 3rd quarter valued at $31,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of ZIM Integrated Shipping Services by 2,341.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock valued at $43,000 after acquiring an additional 1,850 shares during the period. American Capital Advisory LLC bought a new position in ZIM Integrated Shipping Services during the third quarter worth $69,000. Finally, Sunbelt Securities Inc. bought a new stake in ZIM Integrated Shipping Services in the third quarter valued at $71,000. Institutional investors own 21.42% of the company’s stock.

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.