ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up to $20.06

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped up prior to trading on Monday . The stock had previously closed at $20.06, but opened at $20.72. ZIM Integrated Shipping Services shares last traded at $21.54, with a volume of 2,092,957 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.50 target price on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Jefferies Financial Group restated a “buy” rating and set a $22.00 target price on shares of ZIM Integrated Shipping Services in a report on Monday, August 19th. Barclays boosted their target price 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, Citigroup downgraded shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $11.60 to $13.00 in a report on Thursday, June 6th. Four equities research analysts have rated the stock with a sell rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $14.84.

ZIM Integrated Shipping Services Stock Performance

The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -1.02, a P/E/G ratio of 0.04 and a beta of 1.83. The company’s fifty day simple moving average is $18.72 and its 200 day simple moving average is $16.68. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.41.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Monday, August 19th. The company reported $3.08 EPS for the quarter, beating 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 firm 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 company earned ($1.37) earnings per share. On average, equities research analysts expect that ZIM Integrated Shipping Services Ltd. will post 10.87 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 29th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 17.33%. The ex-dividend date 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 payout ratio is presently -4.35%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of institutional investors have recently modified their holdings of ZIM. Northwestern Mutual Wealth Management Co. boosted its position in shares of ZIM Integrated Shipping Services by 2,341.8% in the second 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 during the period. Scarborough Advisors LLC bought a new stake in ZIM Integrated Shipping Services during the fourth quarter worth about $58,000. Russell Investments Group Ltd. lifted its position in ZIM Integrated Shipping Services by 1,431.1% during the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after purchasing an additional 5,667 shares during the period. Mather Group LLC. bought a new stake in ZIM Integrated Shipping Services during the second quarter worth about $96,000. Finally, Private Advisor Group LLC bought a new stake in ZIM Integrated Shipping Services during the fourth quarter worth about $127,000. Institutional investors 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.