ZIM Integrated Shipping Services (NYSE:ZIM) Reaches New 52-Week High Following Dividend Announcement

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) hit a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $30.00 and last traded at $29.90, with a volume of 3923976 shares changing hands. The stock had previously closed at $26.78.

The newly announced dividend which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be given a $2.81 dividend. This represents a $11.24 dividend on an annualized basis and a yield of 46.34%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date is Monday, December 2nd. ZIM Integrated Shipping Services’s dividend payout ratio is presently 9.72%.

Analyst Ratings Changes

A number of research firms recently weighed in on ZIM. Bank of America upped their target price on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Barclays raised 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. Jefferies Financial Group reiterated a “hold” rating and issued a $25.00 price target on shares of ZIM Integrated Shipping Services in a research note on Wednesday. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.50 target price 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 given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $15.22.

ZIM Integrated Shipping Services Stock Down 10.2 %

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 company has a market capitalization of $2.92 billion, a PE ratio of 2.03, a price-to-earnings-growth ratio of 0.04 and a beta of 1.88. The business’s 50-day simple moving average is $22.67 and its 200-day simple moving average is $20.40.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $1.01. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the company earned ($1.37) EPS. As a group, equities research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 13.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ZIM. Renaissance Technologies LLC increased its stake in ZIM Integrated Shipping Services by 479.9% during the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock worth $58,429,000 after purchasing an additional 2,181,000 shares during the period. Marshall Wace LLP raised its position 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 worth $53,148,000 after acquiring an additional 2,072,715 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of ZIM Integrated Shipping Services by 7.8% during the second quarter. American Century Companies Inc. now owns 1,759,141 shares of the company’s stock valued at $39,000,000 after acquiring an additional 127,229 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in ZIM Integrated Shipping Services by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 860,456 shares of the company’s stock worth $22,079,000 after buying an additional 36,692 shares during the last quarter. Finally, Encompass Capital Advisors LLC acquired a new position in shares of ZIM Integrated Shipping Services in the 2nd quarter valued at about $14,383,000. 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.