ZIM Integrated Shipping Services (NYSE:ZIM) Given New $15.00 Price Target at Barclays

ZIM Integrated Shipping Services (NYSE:ZIM) had its price objective upped by Barclays from $12.50 to $15.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other equities research analysts have also recently issued reports on the company. Jefferies Financial Group reiterated a buy rating and issued a $22.00 price objective on shares of ZIM Integrated Shipping Services in a report on Monday, August 19th. Citigroup cut ZIM Integrated Shipping Services from a neutral rating to a sell rating and lifted their price objective for the stock from $11.60 to $13.00 in a report on Thursday, June 6th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $13.41.

ZIM Integrated Shipping Services Stock Down 5.0 %

ZIM stock opened at $20.17 on Friday. The company’s 50-day simple moving average is $19.56 and its 200-day simple moving average is $15.79. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.04 and a quick ratio of 0.90. ZIM Integrated Shipping Services has a 52-week low of $6.39 and a 52-week high of $23.82.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted 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. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the company posted ($1.37) EPS. As a group, equities analysts predict that ZIM Integrated Shipping Services will post 7.97 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 18.44%. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, August 29th. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is -4.35%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its stake in ZIM Integrated Shipping Services by 479.9% in the 2nd 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 in the last quarter. Marshall Wace LLP lifted its stake in ZIM Integrated Shipping Services by 638.6% in the 2nd quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock worth $53,148,000 after purchasing an additional 2,072,715 shares in the last quarter. American Century Companies Inc. lifted its stake in ZIM Integrated Shipping Services by 7.8% in the 2nd quarter. American Century Companies Inc. now owns 1,759,141 shares of the company’s stock worth $39,000,000 after purchasing an additional 127,229 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in ZIM Integrated Shipping Services in the 2nd quarter worth approximately $14,383,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of ZIM Integrated Shipping Services by 82.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 512,103 shares of the company’s stock valued at $5,054,000 after buying an additional 231,955 shares during the period. 21.42% of the stock is owned by hedge funds and other 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.