ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Up 10.1% – Here’s Why

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price traded up 10.1% during mid-day trading on Monday . The stock traded as high as $15.82 and last traded at $16.13. 2,833,158 shares changed hands during trading, a decline of 50% from the average session volume of 5,656,987 shares. The stock had previously closed at $14.65.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZIM. Jefferies Financial Group restated a “hold” rating and issued a $18.00 price target on shares of ZIM Integrated Shipping Services in a research report on Wednesday, March 12th. Barclays cut their price target on shares of ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating on the stock in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. lowered their price objective on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a research report on Friday, March 7th. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $13.54.

ZIM Integrated Shipping Services Trading Down 2.8 %

The stock has a market capitalization of $1.83 billion, a P/E ratio of 1.27, a P/E/G ratio of 0.27 and a beta of 1.70. The firm’s 50 day simple moving average is $18.75 and its two-hundred day simple moving average is $20.59. 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 issued its 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 business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $1.99 billion. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. As a group, analysts forecast 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 company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Monday, March 24th will be issued 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 83.48%. The ex-dividend date is Monday, March 24th. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently 6.51%.

Institutional Trading of ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC grew its holdings in shares of ZIM Integrated Shipping Services by 4.9% during the fourth quarter. Lazard Asset Management LLC now owns 15,443 shares of the company’s stock valued at $331,000 after buying an additional 722 shares during the last quarter. Mark Sheptoff Financial Planning LLC boosted its stake in ZIM Integrated Shipping Services by 26.5% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,300 shares of the company’s stock valued at $92,000 after purchasing an additional 900 shares during the last quarter. Altshuler Shaham Ltd boosted its stake in ZIM Integrated Shipping Services by 650.0% during the 4th quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company’s stock valued at $32,000 after purchasing an additional 1,300 shares during the last quarter. Truist Financial Corp increased its holdings in ZIM Integrated Shipping Services by 10.2% during the 4th quarter. Truist Financial Corp now owns 14,804 shares of the company’s stock worth $318,000 after purchasing an additional 1,376 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of ZIM Integrated Shipping Services by 20.5% in the fourth quarter. HighTower Advisors LLC now owns 12,246 shares of the company’s stock worth $263,000 after purchasing an additional 2,080 shares during the last quarter. Institutional investors own 21.42% of the company’s stock.

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.