ZIM Integrated Shipping Services (NYSE:ZIM) Shares Up 5.6% – Here’s What Happened

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price traded up 5.6% on Tuesday . The company traded as high as $15.23 and last traded at $15.41. Approximately 1,863,369 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 5,850,872 shares. The stock had previously closed at $14.59.

Analyst Ratings Changes

A number of research firms have recently weighed in on ZIM. Jefferies Financial Group restated a “hold” rating and issued a $18.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday, March 12th. JPMorgan Chase & Co. decreased 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 report on Friday, March 7th. Finally, Barclays dropped 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 note on Monday, March 17th. Five equities research 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.54.

ZIM Integrated Shipping Services Price Performance

The company has a market capitalization of $1.67 billion, a PE ratio of 1.18, a price-to-earnings-growth ratio of 0.27 and a beta of 1.70. The firm’s 50-day moving average is $18.60 and its 200-day moving average is $20.48. 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 (NYSE:ZIM) last posted its quarterly earnings results on Wednesday, March 12th. The company reported $4.66 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $1.19. The company 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 analysts predict that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th will be paid a $3.17 dividend. 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 91.60%. The ex-dividend date is Monday, March 24th. ZIM Integrated Shipping Services’s dividend payout ratio is currently 6.51%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ZIM. JPMorgan Chase & Co. lifted its position in ZIM Integrated Shipping Services by 59.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock valued at $46,482,000 after acquiring an additional 674,723 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter valued at $2,612,000. Decker Retirement Planning Inc. purchased a new stake in ZIM Integrated Shipping Services during the fourth quarter valued at $5,509,000. Raymond James Financial Inc. bought a new position in ZIM Integrated Shipping Services in the fourth quarter valued at about $1,771,000. Finally, Truist Financial Corp increased its position in shares of ZIM Integrated Shipping Services by 10.2% during the 4th quarter. Truist Financial Corp now owns 14,804 shares of the company’s stock valued at $318,000 after purchasing an additional 1,376 shares during the last quarter. 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.