ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – Here’s Why

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares gapped up prior to trading on Friday . The stock had previously closed at $15.39, but opened at $15.77. ZIM Integrated Shipping Services shares last traded at $15.64, with a volume of 1,779,972 shares.

Wall Street Analyst Weigh In

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

ZIM Integrated Shipping Services Trading Up 0.7 %

The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33. The stock has a market cap of $1.87 billion, a PE ratio of 1.30, a price-to-earnings-growth ratio of 0.27 and a beta of 1.70. The firm has a 50-day moving average price of $18.67 and a 200-day moving average price of $20.54.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Wednesday, March 12th. The company reported $4.66 EPS for the quarter, beating the consensus estimate of $3.47 by $1.19. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $1.99 billion. As a group, equities analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Monday, March 24th will be given a dividend of $3.17 per share. This represents a $12.68 dividend on an annualized basis and a yield of 81.83%. The ex-dividend date is Monday, March 24th. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. ZIM Integrated Shipping Services’s dividend payout ratio is 6.51%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of institutional investors and hedge funds have recently made changes to their positions in ZIM. JPMorgan Chase & Co. raised its stake in shares of ZIM Integrated Shipping Services by 59.4% in the third quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock worth $46,482,000 after buying an additional 674,723 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of ZIM Integrated Shipping Services during the third quarter valued at about $2,612,000. Decker Retirement Planning Inc. bought a new stake in ZIM Integrated Shipping Services in the 4th quarter worth approximately $5,509,000. Truist Financial Corp raised its stake in ZIM Integrated Shipping Services by 10.2% during the fourth quarter. Truist Financial Corp now owns 14,804 shares of the company’s stock valued at $318,000 after purchasing an additional 1,376 shares in the last quarter. Finally, Verition Fund Management LLC increased its stake in ZIM Integrated Shipping Services by 2,171.6% during the third quarter. Verition Fund Management LLC now owns 208,057 shares of the company’s stock worth $5,339,000 after acquiring an additional 198,898 shares during the last quarter. Hedge funds and other 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.