Brokerages Set ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Target Price at $13.06

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) have received an average rating of “Reduce” from the seven brokerages that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $13.06.

ZIM has been the subject of several research reports. Jefferies Financial Group reissued a “hold” rating and issued a $18.00 price objective on shares of ZIM Integrated Shipping Services in a research report on Wednesday, March 12th. Bank of America decreased their target price on ZIM Integrated Shipping Services from $16.00 to $12.80 and set an “underperform” rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. reduced 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. Finally, Barclays lowered their price objective on ZIM Integrated Shipping Services from $13.50 to $12.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th.

ZIM Integrated Shipping Services Stock Up 2.3 %

ZIM opened at $14.09 on Tuesday. The business has a 50-day moving average of $16.75 and a 200-day moving average of $19.44. ZIM Integrated Shipping Services has a fifty-two week low of $11.04 and a fifty-two week high of $30.15. The company has a market capitalization of $1.70 billion, a PE ratio of 1.18, a price-to-earnings-growth ratio of 0.27 and a beta of 1.84. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings data on Wednesday, March 12th. The company reported $4.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $1.19. ZIM Integrated Shipping Services had a net margin of 19.26% and a return on equity of 48.63%. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Equities research analysts forecast that ZIM Integrated Shipping Services will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Monday, March 24th were paid a $3.17 dividend. The ex-dividend date was Monday, March 24th. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. This represents a $12.68 dividend on an annualized basis and a yield of 89.99%. ZIM Integrated Shipping Services’s dividend payout ratio is presently 6.51%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Large investors have recently bought and sold shares of the company. HighTower Advisors LLC bought a new position in shares of ZIM Integrated Shipping Services in the 3rd quarter valued at about $263,000. Geode Capital Management LLC grew its position in ZIM Integrated Shipping Services by 3.4% during the third quarter. Geode Capital Management LLC now owns 88,086 shares of the company’s stock worth $2,260,000 after buying an additional 2,873 shares in the last quarter. Virtu Financial LLC bought a new stake in ZIM Integrated Shipping Services during the third quarter worth about $893,000. JPMorgan Chase & Co. raised its holdings in shares of ZIM Integrated Shipping Services by 59.4% during the 3rd 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 in the last quarter. Finally, Decker Retirement Planning Inc. bought a new position in shares of ZIM Integrated Shipping Services in the fourth quarter worth about $5,509,000. 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.