ZIM Integrated Shipping Services (NYSE:ZIM) Hits New 12-Month High – Here’s What Happened

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price reached a new 52-week high on Thursday . The company traded as high as $27.14 and last traded at $26.61, with a volume of 1556668 shares traded. The stock had previously closed at $25.01.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ZIM. Bank of America upped their target price on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Jefferies Financial Group lowered shares of ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research report on Wednesday, October 2nd. Barclays boosted their target price on shares of ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $15.22.

ZIM Integrated Shipping Services Stock Performance

The company has a debt-to-equity ratio of 1.41, a current ratio of 1.04 and a quick ratio of 0.97. The company’s fifty day moving average is $21.97 and its two-hundred day moving average is $20.04.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its earnings results on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $1.01. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations 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 company posted ($1.37) earnings per share. On average, analysts forecast that ZIM Integrated Shipping Services Ltd. will post 12.11 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 29th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 14.25%. The ex-dividend date of this dividend was Thursday, August 29th. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. ZIM Integrated Shipping Services’s payout ratio is -1.41%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fairman Group LLC purchased a new stake in ZIM Integrated Shipping Services during the third quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of ZIM Integrated Shipping Services during the 3rd quarter worth about $31,000. Northwestern Mutual Wealth Management Co. grew 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. Russell Investments Group Ltd. increased its stake in shares of ZIM Integrated Shipping Services by 1,431.1% in the 1st quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock valued at $61,000 after purchasing an additional 5,667 shares in the last quarter. Finally, American Capital Advisory LLC acquired a new position in ZIM Integrated Shipping Services in the 3rd quarter worth about $69,000. Institutional investors and hedge funds 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.