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

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped up prior to trading on Tuesday . The stock had previously closed at $19.37, but opened at $20.24. ZIM Integrated Shipping Services shares last traded at $20.88, with a volume of 1,013,463 shares changing hands.

Wall Street Analysts Forecast Growth

ZIM has been the subject of several recent analyst reports. Jefferies Financial Group reduced their target price on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating for the company in a research note on Tuesday, December 17th. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Barclays lowered their target price on shares of ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Finally, Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. Five analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ZIM Integrated Shipping Services presently has a consensus rating of “Hold” and an average target price of $15.04.

ZIM Integrated Shipping Services Stock Up 7.7 %

The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The stock has a 50-day moving average of $19.22 and a 200-day moving average of $20.48. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 1.74, a price-to-earnings-growth ratio of 0.23 and a beta of 1.74.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given a $2.81 dividend. The ex-dividend date was Monday, December 2nd. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 annualized dividend and a yield of 53.87%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truist Financial Corp acquired a new position in ZIM Integrated Shipping Services during the 2nd quarter worth $417,000. Valeo Financial Advisors LLC acquired a new stake in ZIM Integrated Shipping Services in the third quarter worth about $385,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in ZIM Integrated Shipping Services in the third quarter worth about $31,000. nVerses Capital LLC increased its stake in ZIM Integrated Shipping Services by 50.0% during the 3rd quarter. nVerses Capital LLC now owns 9,600 shares of the company’s stock valued at $246,000 after buying an additional 3,200 shares during the period. Finally, Blue Trust Inc. raised its position in shares of ZIM Integrated Shipping Services by 106.5% during the 3rd quarter. Blue Trust Inc. now owns 19,785 shares of the company’s stock worth $508,000 after buying an additional 10,202 shares in the last quarter. 21.42% of the stock is owned by institutional investors.

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.