ZIM Integrated Shipping Services (NYSE:ZIM) Reaches New 1-Year High – Time to Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) 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.

Wall Street Analyst Weigh In

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

ZIM Integrated Shipping Services Stock Up 8.8 %

The business has a 50-day moving average price of $21.60 and a 200 day moving average price of $19.91. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $3.28 billion, a P/E ratio of -1.64, a P/E/G ratio of 0.04 and a beta of 1.88.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings data on Monday, August 19th. The company reported $3.08 EPS 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 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 period last year, the company posted ($1.37) EPS. On average, equities analysts expect that ZIM Integrated Shipping Services Ltd. will post 12.11 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 29th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 13.67%. This is an increase 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 -1.41%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC increased its position in ZIM Integrated Shipping Services by 479.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock valued at $58,429,000 after purchasing an additional 2,181,000 shares during the period. Marshall Wace LLP grew its stake in ZIM Integrated Shipping Services by 638.6% in the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock valued at $53,148,000 after purchasing an additional 2,072,715 shares during the last quarter. Encompass Capital Advisors LLC bought a new position in ZIM Integrated Shipping Services in the second quarter worth about $14,383,000. International Assets Investment Management LLC lifted its position in shares of ZIM Integrated Shipping Services by 2,228.7% during the third quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock valued at $10,337,000 after buying an additional 385,562 shares during the last quarter. Finally, Quantbot Technologies LP grew its position in shares of ZIM Integrated Shipping Services by 9,573.0% in the 3rd quarter. Quantbot Technologies LP now owns 370,477 shares of the company’s stock worth $9,506,000 after buying an additional 366,647 shares during the last quarter. 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.