ZIM Integrated Shipping Services (NYSE:ZIM) Trading 2.7% Higher

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) traded up 2.7% during trading on Thursday . The stock traded as high as $20.00 and last traded at $19.64. 1,051,767 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 6,009,238 shares. The stock had previously closed at $19.12.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ZIM. Bank of America boosted their price target on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Citigroup cut ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and upped their target price for the stock from $11.60 to $13.00 in a research report on Thursday, June 6th. Jefferies Financial Group reissued a “buy” rating and issued a $22.00 price target on shares of ZIM Integrated Shipping Services in a research report on Monday, August 19th. Barclays upped their price objective on shares of ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Four research analysts have rated the stock with a sell rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, ZIM Integrated Shipping Services has an average rating of “Reduce” and a consensus target price of $14.84.

ZIM Integrated Shipping Services Trading Down 1.6 %

The company’s 50 day moving average is $18.72 and its two-hundred day moving average is $16.64. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.04 and a quick ratio of 0.97. The firm has a market cap of $2.42 billion, a P/E ratio of -0.95, a PEG ratio of 0.04 and a beta of 1.83.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $1.01. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the business earned ($1.37) earnings per share. On average, sell-side analysts predict that ZIM Integrated Shipping Services Ltd. will post 10.87 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 18.53%. The ex-dividend date of this dividend was Thursday, August 29th. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently -4.35%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its position in ZIM Integrated Shipping Services by 2,341.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock valued at $43,000 after acquiring an additional 1,850 shares in the last quarter. Scarborough Advisors LLC bought a new stake in ZIM Integrated Shipping Services during the 4th quarter worth about $58,000. Russell Investments Group Ltd. boosted its stake in shares of ZIM Integrated Shipping Services by 1,431.1% during the 1st quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after buying an additional 5,667 shares during the last quarter. Mather Group LLC. bought a new position in shares of ZIM Integrated Shipping Services in the 2nd quarter valued at about $96,000. Finally, Private Advisor Group LLC acquired a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter valued at about $127,000. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.