ZIM Integrated Shipping Services (NYSE:ZIM) Trading 2.2% Higher

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price shot up 2.2% during trading on Monday . The company traded as high as $22.68 and last traded at $22.65. 1,160,449 shares were traded during mid-day trading, a decline of 82% from the average session volume of 6,424,651 shares. The stock had previously closed at $22.17.

Analysts Set New Price Targets

A number of brokerages recently commented on ZIM. JPMorgan Chase & Co. dropped their price target on ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Bank of America cut their target price on shares of ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating for the company in a report on Tuesday, March 19th. Citigroup downgraded shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and upped their price target for the company from $11.60 to $13.00 in a research note on Thursday, June 6th. Jefferies Financial Group reissued a “buy” rating and issued a $20.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday, May 22nd. Finally, Barclays upped their target price on shares of ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the company an “underweight” rating in a research report on Tuesday, May 28th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.01.

ZIM Integrated Shipping Services Stock Performance

The company has a debt-to-equity ratio of 1.49, a current ratio of 0.98 and a quick ratio of 0.90. The business has a 50-day moving average of $18.04 and a 200-day moving average of $13.85. The company has a market capitalization of $2.74 billion, a P/E ratio of -1.07, a P/E/G ratio of 0.20 and a beta of 1.85.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its earnings results on Tuesday, May 21st. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.34). The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.53 billion. ZIM Integrated Shipping Services had a negative return on equity of 14.80% and a negative net margin of 47.59%. On average, sell-side analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.42 EPS for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.92 annualized dividend and a dividend yield of 4.03%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several hedge funds have recently bought and sold shares of ZIM. Cetera Advisors LLC bought a new position in ZIM Integrated Shipping Services in the 1st quarter worth about $130,000. Virtu Financial LLC purchased a new stake in shares of ZIM Integrated Shipping Services in the first quarter valued at approximately $257,000. Tidal Investments LLC grew its stake in ZIM Integrated Shipping Services by 18.4% in the first quarter. Tidal Investments LLC now owns 55,779 shares of the company’s stock worth $564,000 after purchasing an additional 8,665 shares in the last quarter. California State Teachers Retirement System increased its holdings in ZIM Integrated Shipping Services by 2.4% during the 1st quarter. California State Teachers Retirement System now owns 104,767 shares of the company’s stock worth $1,060,000 after purchasing an additional 2,423 shares during the period. Finally, Axxcess Wealth Management LLC bought a new stake in ZIM Integrated Shipping Services during the 1st quarter valued at $546,000. 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.