ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Up 9.2% on Strong Earnings

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIMGet Rating) were up 9.2% on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $22.81 and last traded at $22.78. Approximately 3,542,507 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 4,449,513 shares. The stock had previously closed at $20.86.

The company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $1.18. ZIM Integrated Shipping Services had a net margin of 42.71% and a return on equity of 118.65%. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the company earned $14.17 earnings per share.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Friday, March 24th will be paid a $6.40 dividend. The ex-dividend date is Tuesday, April 4th. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.95. This represents a $25.60 dividend on an annualized basis and a dividend yield of 111.21%. ZIM Integrated Shipping Services’s dividend payout ratio is 24.04%.

Wall Street Analyst Weigh In

ZIM has been the subject of several recent research reports. Barclays lowered shares of ZIM Integrated Shipping Services from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $26.50 to $15.00 in a report on Monday, February 13th. JPMorgan Chase & Co. raised shares of ZIM Integrated Shipping Services from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $17.60 to $30.40 in a report on Friday, February 17th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $20.00 target price on shares of ZIM Integrated Shipping Services in a research note on Monday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.08.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ellevest Inc. acquired a new stake in shares of ZIM Integrated Shipping Services during the fourth quarter valued at about $27,000. CWM LLC grew its stake in shares of ZIM Integrated Shipping Services by 1,299.1% in the fourth quarter. CWM LLC now owns 1,553 shares of the company’s stock worth $27,000 after purchasing an additional 1,442 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in ZIM Integrated Shipping Services during the second quarter valued at about $28,000. HBK Sorce Advisory LLC boosted its position in shares of ZIM Integrated Shipping Services by 100.0% in the 4th quarter. HBK Sorce Advisory LLC now owns 30,000 shares of the company’s stock valued at $32,000 after purchasing an additional 15,000 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in ZIM Integrated Shipping Services by 92.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,406 shares of the company’s stock worth $33,000 after acquiring an additional 676 shares in the last quarter. Institutional investors and hedge funds own 36.74% of the company’s stock.

ZIM Integrated Shipping Services Price Performance

The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 1.58. The company has a market capitalization of $2.76 billion, a PE ratio of 0.47 and a beta of 2.19. The stock has a 50 day moving average price of $20.37 and a two-hundred day moving average price of $22.92.

ZIM Integrated Shipping Services Company Profile

(Get Rating)

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.

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