ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – Here’s Why

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares gapped up prior to trading on Monday . The stock had previously closed at $22.87, but opened at $23.72. ZIM Integrated Shipping Services shares last traded at $23.94, with a volume of 694,172 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ZIM. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $10.50 target price on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Jefferies Financial Group downgraded ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a research report on Wednesday, October 2nd. Bank of America raised their price target on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Finally, Barclays lifted their price objective on shares of ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. Based on data from MarketBeat, ZIM Integrated Shipping Services currently has a consensus rating of “Reduce” and a consensus price target of $15.44.

ZIM Integrated Shipping Services Stock Up 8.2 %

The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.04. The stock’s fifty day simple moving average is $20.08 and its two-hundred day simple moving average is $18.33. The stock has a market capitalization of $2.98 billion, a P/E ratio of -1.49, a price-to-earnings-growth ratio of 0.04 and a beta of 1.86.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $1.01. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.71 billion. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. During the same quarter last year, the firm earned ($1.37) earnings per share. As a group, research analysts expect that ZIM Integrated Shipping Services Ltd. will post 11.22 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 15.03%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, August 29th. ZIM Integrated Shipping Services’s dividend payout ratio is presently -5.64%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ZIM. International Assets Investment Management LLC grew its stake in ZIM Integrated Shipping Services by 29.5% in the first quarter. International Assets Investment Management LLC now owns 22,800 shares of the company’s stock valued at $243,000 after acquiring an additional 5,200 shares during the period. Counterpoint Mutual Funds LLC raised its stake in shares of ZIM Integrated Shipping Services by 105.9% in the first quarter. Counterpoint Mutual Funds LLC now owns 28,438 shares of the company’s stock worth $288,000 after purchasing an additional 14,627 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of ZIM Integrated Shipping Services in the first quarter valued at approximately $310,000. Russell Investments Group Ltd. grew its holdings in ZIM Integrated Shipping Services by 1,431.1% during the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after buying an additional 5,667 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in ZIM Integrated Shipping Services during the 1st quarter valued at $854,000. 21.42% of the stock is owned by institutional investors.

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.